New York cuts list of pre-approved cryptocurrencies as it raises standards

From axios.com

New York has quietly but dramatically shortened its list of pre-approved cryptocurrencies that regulated entities can readily exchange or custody on behalf of clients. Driving the news: New York Department of Financial Services on Monday announced new standards for crypto exchanges, detailing new processes for listing and delisting coins — with it came an updated list of coins pre-approved by the state. Of note: The new list features only the two largest cryptocurrencies — bitcoin and ether — and six stablecoins, compared to the two dozen that were on the list previously. For any coins not on the shortened ... (full story)