#cryptocurrency

NYDFS wants to increase transparency from cryptocurrency companies operating in the state, particularly in their processes for listing and delisting cryptocurrencies. The new framework will require firms to develop their coin-listing policies in three key areas: governance for the coin-listing process, risk assessments of coins, and procedures for monitoring coins. The framework will also require firms to provide detailed information on their criteria and decision-making process for delisting a coin. The proposed legislation is open for public comments and will remain so until October 20th.

Hong Kong police have arrested Joseph Lam, a crypto influencer and former lawyer, in connection with the ongoing investigation into cryptocurrency exchange JPEX. Lam, who has over 190,000 Instagram followers, was arrested today and his office was raided. The arrest follows the Securities and Futures Commission's warning against JPEX for misleading statements about its licensing status. The police have received at least 83 complaints involving JPEX, with virtual assets worth about HK$34 million ($4.3 million) reported.