Adrienne A. Harris, the head of the New York State Department of Financial Services (NYDFS), announced on Wednesday that the department has strengthened its guidance on cryptocurrency listings and delistings to better protect cryptocurrency investors throughout the state.

The updated guidelines will require cryptocurrency companies to submit their token listing and delisting policies for NYDFS approval. The statement said that these companies' policies will be measured against stricter risk assessment criteria to ensure that delistings are conducted in an orderly manner, protecting consumers and minimizing market disruption. The new rules also require companies to provide advance payments for token delistings and be more transparent with customers about canceling support for cryptocurrencies that they have previously listed.