NYDFS Creates Crypto Greenlist, Includes Paxos Issued Tokens

by Cryptospacey

The New York State Department of Financial Services (NYDFS) has recently issued a “greenlist” of virtual currencies, which have been pre-approved by the regulator for licensees to list and trade.

On its greenlist, the regulator has pre-approved coins for custody and coins for listing. Starting with custody, the approved coins are as follows – Binance USD (BUSD), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ethereum (ETH), Gemini Dollar (GUSD), Litecoin (LTC), Pax Gold (PAXG), Paxos Standard (PAX) and Ripple (XRP).

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The cryptos approved for listing are – Binance USD (BUSD), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Gemini Dollar (GUSD), Litecoin (LTC), Pax Gold (PAXG) and Paxos Standard (PAX).

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“Any licensed entity may use coins on the Greenlist for their approved purpose(s). Note that if a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use,” NYDFS said on its website.

Paxos responds to inclusion on NYDFS greenlist

Paxos has responded to all three of its issued tokens being listed on the regulator’s greenlist on Thursday, stating that it validated the company’s time, energy and expense that it puts into compliance.

Dan Burstein of Paxos
Dan Burstein, Chief Compliance Officer at Paxos
Source: LinkedIn

Commenting on the greenlist, Dan Burstein, Chief Compliance Officer at Paxos said in a statement yesterday: “As the Chief Compliance Officer at Paxos, I’m proud that the culture of Paxos is truly centered around compliance. We build products that the world has never seen before, and we build them for the innovators in the space, not the bad actors. 

“Our engineers and product managers prioritize compliance as we create new products, our business development team considers compliance as we structure new partnerships, our operations team helps onboard and service customers according to our high compliance standards, our information security team ensures we hold our customers’ digital assets and personal information in the most secure way possible — the list goes on.”

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