The New York Department of Financial Services (DFS) has ratcheted up its oversight on the cryptocurrency market, removing several popular digital tokens like Ripple-linked XRP and Dogecoin from its approved 'greenlist'
its regulatory grip on cryptocurrencies, as part of its ongoing VOLT initiative aimed at strengthening oversight in the digital asset sector. In a new update, the DFS removed several cryptocurrencies, including Ripple-affiliated XRP and Dogecoin, from its greenlit digital tokens.
The removals coincide with updated guidelines that intend to clarify the department's coin-listing and delisting criteria for regulated entities.In a press release, DFS Superintendent Adrienne Harris announced enhancements to the department's coin-listing policies. The new guidelines raise the bar for evaluating the risk of adding new cryptocurrencies and introduce rules for businesses that serve retail customers. Prior to these changes, companies with a DFS license could independently certify and add digital assets for holding or trading.
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