On November 15, 2023, the New York Department of Financial Services (NYDFS) unveiled new rules pertaining to the listing and delisting of virtual currencies.
These regulations are applicable to entities holding Bitlicenses and limited-purpose trust companies.
The update incorporates new considerations for the business models of virtual currency entities (VCEs), alongside revised expectations for risk assessments.
Furthermore, the NYDFS introduced new notification requirements in advance, along with updated definitions relevant to the sector.