New York State Department of Financial Services · NY
Notice Regarding Ethereum’s Upcoming Protocol Change
September 14, 2022
Summary
The New York State Department of Financial Services confirms that Ether (ETH) remains on its Greenlisted Coins list following the Ethereum proof-of-stake protocol change. Any new virtual currency resulting from a blockchain fork requires prior Department approval before listing or custody by licensed entities.
September 14, 2022
TO: All Virtual Currency Business Entities Licensed under 23 NYCRR Part 200 or Chartered as Limited Purpose Trust Companies under the New York Banking Law
FROM: Adrienne Harris, Superintendent of Financial Services
RE: Notice Regarding Ethereum’s Upcoming Protocol Change
Following Ethereum’s upcoming protocol change to a “proof of stake” consensus mechanism, the New York State Department of Financial Services (the “Department”) will continue to recognize Ether (ETH) under its Greenlisted Coins/Tokens list.
Should there be any fork related to the Ethereum blockchain that results in any new virtual currency, the Department will require virtual currency business entities seeking to list or custody such virtual currency to obtain prior Department approval in accordance with the existing Guidance Regarding Adoption or Listing of Virtual Currencies.
Note: This notice is not intended to, and does not, limit the scope or applicability of any law or regulation. For further information, virtual currency business entities may contact their relationship managers or points of contact with the Department.
Source: https://www.dfs.ny.gov/industry_guidance/industry_letters/il20220914_ethereum
Common questions
- What does "Notice Regarding Ethereum’s Upcoming Protocol Change" cover?
- The New York State Department of Financial Services confirms that Ether (ETH) remains on its Greenlisted Coins list following the Ethereum proof-of-stake…
- Which agency issued this update?
- This update was issued by New York State Department of Financial Services.
- When was it published?
- It was published on September 14, 2022.
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