NYDFS Creates Crypto Greenlist, Includes Paxos Issued Tokens

The New York State Department of Financial Services (NYDFS) has recently issued a 'greenlist' of virtual currencies, which have been pre-approved by the regulator for licensees to list and trade.

On its greenlist, the regulator has pre-approved coins for custody and coins for listing. Starting with custody, the approved coins are as follows - Binance USD (BUSD), Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC), Bitcoin Cash (BCH), Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term Classic (ETC), Ethereum (ETH), Gemini Dollar (GUSD), Litecoin (LTC), Pax Gold (PAXG), Paxos Standard (PAX) and Ripple (XRP).

The cryptos that were approved for listing are - Binance USD (BUSD), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Gemini Dollar (GUSD), Litecoin (LTC), Pax Gold (PAXG) and Paxos Standard (PAX).

“Any licensed entity may use coins on the Greenlist for their approved purpose(s). Note that if a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use,” NYDFS said on its website.

Paxos Responds to Inclusion on NYDFS Greenlist

Paxos has responded to all three of its issued tokens being listed on the regulator’s greenlist on Thursday, stating that it had validated the company’s time, energy and expense that it puts into compliance.

Commenting on the greenlist, Dan Burstein, Chief Compliance Officer at Paxos said in a statement yesterday: “As the Chief Compliance Officer at Paxos, I’m proud that the culture of Paxos is truly centered around compliance. We build products that the world has never seen before, and we build them for the innovators in the space, not the bad actors.

“Our engineers and product managers prioritize compliance as we create new products, our business development team considers compliance as we structure new partnerships, our operations team helps onboard and service customers according to our high compliance standards, our information security team ensures we hold our customers’ digital assets and personal information in the most secure way possible — the list goes on.”