New York's financial regulator has authorized a trust of 10 cryptocurrencies
The New York State Department of Financial Services has created a "green list" of 8 virtual currencies that can be traded and 10 coins approved for storage by licensed entities.
As reported on August 3 on the New York State Department of Financial Services (NYDFS) website, state regulators approved 8 cryptocurrencies for listing and trading. The approved moents are: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Binance USD (BUSD), Gemini Dollar (GUSD), Pax Gold (PAXG) and Paxos Standard Token (PAX).
"Any entity authorized by the DFS to do business in virtual currencies in New York may use Green List coins for its approved purposes."
said the NYDFS.
However, he explained that any licensed economic operator must inform the regulatory authority before using any token on the list.
The announcement also stated that the NYDFS has the authority to remove any cryptocurrencies at any time, the restriction of activity on each coin, and the complete cessation of activities under that list.