The New York State Department of Financial Services (DFS) has released a cryptocurrency Greenlist, pre-approving 10 coins for custody and 8 for listing by licensed entities. Simultaneously, the U.S. Senate confirmed SEC Commissioner Hester Peirce — widely known as “Crypto Mom” — for another term, boosting hopes for clearer crypto regulations.
Greenlist Details: 10 Coins for Custody
The Greenlist includes 10 cryptocurrencies for custody: Binance USD (BUSD), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ethereum (ETH), Gemini Dollar (GUSD), Litecoin (LTC), Pax Gold (PAXG), Paxos Standard (PAX), and Ripple (XRP). For listing, all except ETC and XRP are pre-approved, totaling 8 coins. DFS stated: “Any licensed entity may use coins on the Greenlist for their approved purpose(s), but must inform DFS prior to beginning its use.”
This initiative follows guidance proposed by DFS in December last year, aiming to streamline compliance for crypto businesses. The regulator emphasized that as long as listed coins have not undergone material modifications, forks, or changes, entities may use them without prior approval.
Self-Certification for New Coins
Beyond the Greenlist, DFS allows crypto firms to create customized coin-listing or adoption policies tailored to their business models and risk profiles. Once approved, companies can self-certify the addition of new coins beyond the Greenlist without further DFS approval. This flexible approach is expected to accelerate innovation within New York’s crypto ecosystem.
DFS will maintain an updated Greenlist and encourages firms to refer to its previously issued guidance on cryptocurrency listing and adoption, available on the DFS website.
SEC’s Crypto Mom Reconfirmed, Pushing Token Safe Harbor
The U.S. Senate also confirmed Hester Peirce for another term at the Securities and Exchange Commission. Peirce, known as “Crypto Mom” for her industry-friendly stance, has long advocated for Bitcoin ETF approval. In February, she proposed a “Token Safe Harbor Proposal” to bridge the gap between regulation and decentralization, granting projects a three-year grace period to develop networks without being classified as securities. Her reconfirmation is viewed as positive for the crypto market, potentially accelerating clear SEC guidance.
Industry analysts note that the DFS Greenlist and Peirce’s reconfirmation collectively signal a shift in U.S. regulatory attitudes from resistance toward conditional acceptance of crypto assets. As a global financial hub, New York’s moves may influence other states and federal regulators.
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