Virtual Currency

Virtual Currency

SHARE

Virtual Currencies

There are multiple paths virtual currency businesses can take to adopt or list virtual currencies: approval of a specific application to DFS for a material change of business; self-certification of a coin listing policy approved by DFS; use of virtual currencies already on the greenlist. For more information, please see Guidance Regarding Adoption or Listing of Virtual Currencies and Coin-Listing Process infographic.

Self-Certification

Regulated entities engaged in Virtual Currency Business Activity may submit to DFS a self-certification policy, pursuant to guidance DFS issued in June 2020.  Once DFS approves such a policy and the entity seeks to self-certify a coin for listing or custody, it must submit a self-certification form. Certifications should be submitted via the secure DFS Portal. To access the DFS Portal you will need to create a portal account.

When you first log in, click on Ask for Apps to request access to the Virtual Self-Certification application, for the company(ies) you will be filing for. When this is approved, you will be able to access this application in the My Apps menu.

Greenlist

Any entity licensed by DFS to conduct virtual currency business activity in New York 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.

Updated: August 3, 2020

Coins Approved for Custody Coins Approved for Listing

Binance USD (BUSD)

Binance USD (BUSD)

Bitcoin (BTC)

Bitcoin (BTC)

Bitcoin Cash (BCH)

Bitcoin Cash (BCH)

Ethereum Classic (ETC)

Ethereum (ETH)

Ethereum (ETH)

Gemini Dollar (GUSD)

Gemini Dollar (GUSD)

Litecoin (LTC)

Litecoin (LTC)

Pax Gold (PAXG)

Pax Gold (PAXG)

Paxos Standard (PAX)

Paxos Standard (PAX)

 

Ripple (XRP)

 

Disclaimer: DFS may, at any time and in its sole discretion, prohibit or otherwise limit a coin’s use before or after a VC Entity begins using a coin; require that any VC Entity delist, halt, or otherwise limit or curtail activity with respect to any coin; remove any coin from the Greenlist; refrain from placing any coin on the Greenlist; or discontinue the Greenlist process entirely.