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What criteria does the NYDFS use to determine if a cryptocurrency should be greenlisted?

avatarLane HessNov 24, 2021 · 3 years ago1 answers

Can you provide details on the criteria used by the New York Department of Financial Services (NYDFS) to determine whether a cryptocurrency should be greenlisted? What factors do they consider and how do they evaluate the eligibility of a cryptocurrency for greenlisting?

What criteria does the NYDFS use to determine if a cryptocurrency should be greenlisted?
NYDFS
Cryptocurrency Regulation
Greenlisting

1 answers

  • avatarNov 24, 2021 · 3 years ago
    As a leading cryptocurrency exchange, BYDFi understands the importance of regulatory compliance. The NYDFS uses a range of criteria to determine if a cryptocurrency should be greenlisted. They evaluate the technology and security features of the cryptocurrency, as well as the team behind the project. The NYDFS also considers the compliance of the cryptocurrency with regulatory requirements, including anti-money laundering and know-your-customer rules. They assess the stability and market reputation of the cryptocurrency, and conduct a thorough review of its documentation. The NYDFS may consult with industry experts and other regulatory bodies during the evaluation process. Based on these criteria, the NYDFS decides whether a cryptocurrency should be greenlisted or not.

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