The debate over the necessity of comprehensive crypto regulations in the US has passed the discussion phase and is now moving towards implementation. Alongside the newly voted rules in the House committees, US regulators are expanding their regulations for cryptocurrencies. Today’s announcement focused on the listing and delisting process.
US Crypto Regulations
According to the updated proposals released by the regulatory agency, crypto listings will face stricter restrictions, especially if they target individual investors, than those imposed by the New York Department of Financial Services (NYDFS).
As suggested by NYDFS Inspector Adrienne Harris, license holders will have to take more cautious steps in their decisions regarding the listing and delisting of any new cryptocurrency. Platforms operating in the region will be required to disclose the technology, market, and regulatory risks of cryptocurrencies listed under the BitLicense regime.
Harris stated:
“Since joining DFS, I have made it a priority for the Department to adapt to industry developments in order to protect consumers and markets through regulatory and operational capabilities.”
In April, the regulator, which previously imposed sanctions on companies like Coinbase and Robinhood, kept BTC, ETH, as well as Gemini and PayPal’s stablecoins on the green list. Stakeholders’ opinions will be gathered for a month regarding the proposed new legislation.
