Since 2015, the DFS granted 25 virtual currency licenses and charters to VC entities under its BitLicense regulation. These VC entities requested to list new cryptocurrencies in addition to those included in their initial applications with the regulator.
In December 2019, the DFS published proposed guidance that included two proposals for coin adoption or listing options for VC entities.
Under the proposed guidance, VC Entities without DFS-approved coin-listing policies need to obtain approval before listing or adopting any coin for which they had not previously received authorization, other than Greenlisted coins.
Once DFS approved a VC entity’s coin listing policy, it would be able to self-certify to DFS that its proposed adoption or listing of new coins complied with its coin-listing policy requirements approved by the regulator.
All VC entities would be required to keep DFS informed, no later than at the time of their next quarterly filing, of all coins used or offered in connection with their Virtual Currency Business Activity.
