United States:
DFS Greenlists Cryptocurrency Coins
21 August 2020
Pryor Cashman LLP
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On August 3, New York's Department of Financial Services
published a "greenlist" of cryptocurrency
coins. The list separately approves 8 coins for both custody and
listing and approves an additional 2 coins for custody, but not
listing. As Jeff Alberts, co-head of the FinTech Group, discusses
in this video, there has been some
confusion about the legal implications of this greenlist, which are
limited relative to the substantial practical benefits. To learn
more about the benefits and challenges of obtaining a bank charter,
check out this video.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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