XRP Attorney Addresses New York's Delisting of Ripple and Dogecoin, Denies Political Intentions

cryptonews.com:

On Monday, the New York Department of Financial Services (NYDFS) introduced updated standards for its virtual currency oversight while removing Ripple (XRP) from "its approved list of cryptocurrencies."

According to the updated standards, NYDFS reviewed its existing list of approved cryptocurrencies, creating a new list, called the "Greenlist." 

According to the official website of the NYDFS, it explains:

"The Department makes available on its website a Greenlist that identifies the coins the Department has approved for VC Entities to custody or list without first establishing an approved coin-listing policy or otherwise seeking prior approval."

Among hundreds, only eight cryptocurrencies met the NYDFS's stringent criteria, including Bitcoin, Ether, the new PayPal Dollar, and five stablecoins.

Consequently, over two dozen cryptocurrencies previously authorized for custody, listing, or both were removed from the Greenlist. Tokens like Ripple, Dogecoin, and Litecoin are no longer included.

These new standards set clear guidelines for all licensed crypto firms regarding listing various cryptocurrencies. They will apply to all digital firms operating under NYDFS licensing, including those running cryptocurrency exchanges and wallets.

Any firm or token not on the approved list must submit applications to the NYDFS for cryptocurrency listing, with each application subject to individual evaluation.

The New York Department of Financial Services (NYDFS) is renowned for its rigorous oversight of virtual currencies in the United States, primarily through its BitLicense program and virtual currency unit.

While the industry often criticizes the NYDFS for its perceived slow licensing process, the new guidance on cryptocurrency listing