The New York Department of Financial Services has set new rules for how exchanges list and delist cryptocurrencies.
The New York Department of Financial Services (NYDFS) has tightened the rules regarding listings on exchanges to protect investors.
According to the new decision, cryptocurrency companies have the right to list or delist a cryptocurrency. What policies do they follow? They will need to share it with NYDFS.
These policies will be evaluated against risk assessment standards, and companies that delist a cryptocurrency will be required to do so “in a proper manner that protects consumers and minimizes market disruption.”
According to the new rules, companies must inform consumers in advance about cryptocurrencies to be removed from the stock market and Why was it removed from the stock market? They will need to be transparent about it.
Companies will determine their policies regarding these processes according to their “specific business models, activities, consumers and counterparties, geographical distribution of activities and service providers.”