New York State Department of Financial Services Superintendent Adrienne A. Harries has issued fresh guidance on cryptocurrency listing and delisting policies for virtual currency entities, according to a Wednesday release.
The retail-focused guidance introduces risk management standards that focus on coin listing policies.
Licensees to develop and submit a coin delisting policy for approval by the NYDFS “to ensure that, in the event a coin must be delisted, it can be done in an orderly way that protects consumers and minimizes market disruption..”
“This guidance continues the Department’s commitment to an innovative and data-driven approach to virtual currency oversight, keeping pace with industry developments,” Harris said in a statement. DFS is consistently at the forefront of virtual currency regulation, translating years of knowledge and experience into timely and relevant guidance which protects consumers and markets.”
In September, the New York regulator proposed bolstering its oversight of crypto-related firms regulated in the state seeking to list and delist tokens.