New York regulators issue advisory opinion, cryptocurrency listings may face stricter restrictions

ChainCatcher news, according to the proposed updated guidelines released by the New York Department of Financial Services on Monday, cryptocurrency listings will face stricter restrictions, especially if they are aimed at retail investors.

According to the advisory opinion put forward by the Superintendent of Financial Services, Adrienne Harris, licensees are required to assess the legal, reputational, and market risks of any new tokens. To mitigate these risks, licensees must also establish corresponding token delisting procedures.

In addition, the regulatory agency has listed a chartered list in this updated guideline, stating that Bitcoin, Ethereum, and stablecoins issued by PayPal and Gemini can be listed without further regulatory hurdles.