New York crypto regulator removes Ripple and Dogecoin

The New York Department of Financial Services (NYDFS) recently unveiled an update to its virtual currency oversight framework

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[{"selector":"#anim-38d4b8da-c135-41cd-a959-76a98c502887 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-085e916d-064d-4a1e-aa78-e3d50a000338","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-75c47733-fa51-438b-9706-37a2904b4fd1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e4695e5-e0c9-4997-bfc5-48603f9654f6","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b3149b9b-0b1e-4436-9642-26b8ad6271a3","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fbd745d7-f20e-468f-919e-a57e162ef6e0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cdaeedbf-99ce-48fa-bac4-232523a75f3e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] As part of this update, NYDFS removed over two dozen tokens, including Ripple, Dogecoin, and Litecoin, from its "greenlist" of approved tokens

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[{"selector":"#anim-ce7e64ec-2f36-482a-a08d-d8909098d8c1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-fcc918d7-0856-4bb1-bae8-05e7521e02d3","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6733d100-e260-4caa-9c4e-62bff1a38d13","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2f65d745-4ae2-49b0-b236-c577fc473e5f","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-0d572e41-096b-43b3-94e4-535c718fdc0f","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7ca8105-ee93-4822-9892-d3f9f3371c68","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17fc989b-bf5d-465b-a270-9b9ee41448cc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] NYDFS has established itself as a leading digital asset supervisor in the absence of clear federal crypto regulations

[{"selector":"#anim-7cb4b5cf-8e83-4cef-bf54-31cdc872ca84 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-c64a591e-3981-48d6-9ab9-a7e328b1dad0","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-45a43955-7fad-4b14-a5f5-b24893d4d1ed","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5fc0f3fb-82e8-4137-9b25-63d3318a5eb0","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-fb762880-4ff6-433d-a35c-75026e4be6f4","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-695dcda6-9620-4c18-babf-520974132637","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-201369e3-c6c3-4f68-85f8-2e46c3f7af43","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] NYDFS's BitLicense program and virtual currency unit have played a crucial role in overseeing the cryptocurrency industry

[{"selector":"#anim-bd88d9d4-1551-4bef-8b28-1fb6f3c63da5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e5390639-5dd2-420b-8179-66b352b980c0","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fb2a864d-1b66-46eb-8582-de086db5978c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0cb3d4a3-2c2d-4816-a6ed-58ed41caae98","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-732807cf-d22a-4202-9ea1-e6b01812b98f","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b8d14e8-79ae-4c5d-8704-a18ac38dbaee","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9619686d-cc48-4a3a-a5c0-e2e89e48d95a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Despite criticism for its licensing process, NYDFS is praised for its measured approach to crypto regulation, focusing on guidance rather than enforcement actions

[{"selector":"#anim-f62cc049-278c-4c7c-83bd-16f65172b580 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-423cb102-6fa5-48f6-a543-14ebcb74ded2","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a356b44c-810d-4f8d-8e1c-cbf7c9f29dbd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7a24ceac-cef2-4902-a16c-8f607a7d4ab4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-0c6156be-30d4-4c9d-8aba-4ccbd512479a","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7a767c8d-a6e6-4e11-a134-a9c8a2921bfe","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3b64f072-afaa-4bcc-b472-64b5236debe4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] The greenlist was initially created as part of NYDFS's crypto supervision efforts to streamline the listing and custody approval process

[{"selector":"#anim-56642e24-66b6-4e3d-a5c9-948f6aa79b92 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-965c5f82-b65a-4648-b0bf-6f02bb21c15f","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2522eb1e-a0cd-45d4-818c-1f419b3fe94f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ce87754-42d7-4f9e-9716-5109bb28fc4e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-be212352-2864-4adb-8948-b5d80a63b095","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c55bbfb8-d339-4ab8-b5ad-01274c2e3a23","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ef313047-4b24-4a06-a59d-1e08b0dc418b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] The updated greenlist now comprises only eight tokens, reflecting the new framework for greenlisted coins

[{"selector":"#anim-ccd171cb-1540-4341-8694-65ef680c5e71 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.63648635907056%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-578e019b-a916-46eb-ad47-762981e8ccc3","keyframes":{"transform":["translate3d(-109.91254%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d62529b5-440a-4130-8b0f-34b4d17c0bf0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bfaf1c44-3bfb-4ad4-95b9-6e6a3e8a2cee","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-58eb1477-fad8-4a25-ac22-63f3ce546556","keyframes":{"transform":["translate3d(112.80488%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8ac26857-35ad-4c9a-bc3e-f23800ee1a33","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-93e900cc-6dd3-4eb1-a139-cfd706dbbb88","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] NYDFS's new guidance includes heightened risk assessment standards for coin-listing policies and requirements for retail customer-facing businesses, departing from the previous self-certification system