The New York State Department of Financial Services (NYDFS) is setting out to tackle a massive regulatory object: How crypto exchanges like Coinbase, Gemini and others list – and perhaps more importantly, delist – tokens. According to a new public service announcement, the call to update the agency’s guidance builds upon and will try to formalize existing working standards.
But the move is much more than just government incrementalism, and could have nationwide and even global implications.
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My colleague Jack Schickler does a good job breaking down today’s announcements. In short, the agency laid out three aims: set policy so NYDFS licensees are more proactive in assessing legal, reputational and market risks during the coin listing process, update the number of “greenlisted” …