The New York State Department of Financial Services has approved 10 cryptocurrencies for custody service and listing by banks.
New York Regulator’s Cryptocurrency Greenlist
The 10 cryptocurrencies are binance USD (BUSD), bitcoin (BTC), bitcoin cash (BCH), ethereum classic (ETC), ethereum (ETH), gemini dollar (GUSD), litecoin (LTC), pax gold (PAXG), paxos standard (PAX), and ripple (XRP). The NY regulator has announced that it has geenlisted 10 cryptocurrencies for custody and eight cryptocurrencies for listing. The list was updated on August 3. The above-mentioned cryptocurrencies are pre-approved for listing, except for ETC and XRP.
The DFS stated that “Any entity licensed by DFS to conduct virtual currency business activity in New York may use coins on the Greenlist for their approved purpose(s). Note that if a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use.”
The DFS further stated that it will keep an updated list of all cryptocurrencies allowed for crypto companies’ trading activities without its earlier permission, “as long as such listed coins had not been subject to any material modification, division, or change after their listing on the DFS webpage,” the regulator stressed.