TechFlow news, according to CoinDesk, Adrienne A. Harris, Superintendent of the New York State Department of Financial Services (NYDFS), said in a statement on Wednesday that the department has strengthened its guidance on cryptocurrency listing or delisting to enhance protections for cryptocurrency investors across the state. This follows the release of revised guidelines by NYDFS after a feedback period that began in September.
The updated guidelines will require cryptocurrency firms to submit their token listing and delisting policies for NYDFS approval. These policies will be assessed against stricter risk evaluation criteria to ensure delistings occur "in an orderly manner, protecting consumers and minimizing market disruption," the statement said. The new rules also require companies to provide advance notice of token delistings and to be more transparent with customers when discontinuing support for cryptocurrencies they previously listed. In addition, firms must develop policies based on "specific business models, operations, customers and counterparties, operational geography, and service providers," as well as the intended use, purpose, and specific characteristics of the tokens under consideration.
