Fwd: xNY.io | Coin Greenlist (Waiting Period)

[Gunnar Larson]

---------- Forwarded message ---------
From: Gunnar Larson <g at xny.io>
Date: Fri, Dec 3, 2021, 12:22 PM
Subject: Re: xNY.io | Coin Greenlist (Waiting Period)
To: Weber, Richard (DFS) <Richard.weber at dfs.ny.gov>
Cc: Alexi Anania <a at xny.io>, <gene.jacobson at dfs.ny.gov>, Weintraub, Cathy
(DFS) <Cathy.Weintraub at dfs.ny.gov>, Goberdhan, Harry (DFS) <
Harry.Goberdhan at dfs.ny.gov>, Choy, Man-Ying (DFS) <Man-Ying.Choy at dfs.ny.gov>


Mr. Weber:

Hope you are enjoying Happy Holidays.

Kindly circling back with you on the note below.

Does your office have any opinions andor feedback on xNY seeking one-off
Greenlist approval?

Sending you the very best regards.

Thank you,

Gunnar
--
*Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>*
MSc
<https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB>
-
Digital Currency
MBA
<https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/>
- Entrepreneurship
and Innovation (ip)

G at xNY.io
+1-646-454-9107
New York, New York 10001

On Mon, Nov 22, 2021 at 5:45 PM Gunnar Larson <g at xny.io> wrote:

> Mr. Weber:
>
> Thank you for fielding recent correspondence to your office.
>
> Over the last year, xNY.io has been reviewing NY-DFS' proposed model
> framework for the creation
> <https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/gn/adoption_listing_vc>
> by a VC Entity of a coin-listing.
>
> xNY.io understands that we may seek to earn "one off approval
> <https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/coin_listing_process>"
> for specific usages, such as issuing a NY-DFS Greenlisted "xNY" coin
> privately.  Furthermore, we seek guidance on issuing NY-DFS (aka State of
> New York) a SAFT
> <https://www.investopedia.com/terms/s/simple-agreement-future-tokens-saft.asp>
> equation to 30% of xNY's maximum supply.
>
>    1. DFS may, in its discretion, add to the Greenlist coins that have
>    been specifically reviewed and approved by DFS for creation and issuance by
>    a VC Entity privately and in a centralized manner.
>    2. After Step 1 is complete, DFS will announce this on its website.
>    DFS will also note that there will be a six-month waiting period (the
>    “Greenlist Waiting Period”) from the date of such announcement until such
>    time that other VC Entities that have not previously received approval can
>    use the coin (subject to all regulatory, internal approval, and safety and
>    soundness requirements).
>    3. If, during the Greenlist Waiting Period, a VC Entity delists or
>    stops using the coin under consideration for such Greenlisting, DFS may
>    decide whether or not to continue with the Greenlist Waiting Period based
>    on any information it considers relevant.
>
> DFS may, at any time and in its sole discretion, prohibit or otherwise
> limit a coin’s use before or after a VC Entity begins using a coin; require
> that any VC Entity delist, halt, or otherwise limit or curtail activity
> with respect to any coin; remove any coin from the Greenlist; refrain from
> placing any coin on the Greenlist; or discontinue the Greenlist process
> entirely.
>
> Mr. Weber, we see xNY Greenlising (and waiting period) along with SAFT
> proposal a prime approach to our previous "supervisory letter" memos to
> NY-DFS. We feel this approach protects xNY.io's legacy interest given the
> current and/or future virtual currency environment in New York State.
>
> Please let us know what your office thinks of this innovation concept
> generally and if we may work with the VC team on a formal proposal
> submission.
>
> Sending you the very best regards.
>
> Thank you,
>
> Gunnar
> --
> *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>*
> MSc
> <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB>
> - Digital Currency
> MBA
> <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/>
> - Entrepreneurship and Innovation (ip)
>
> G at xNY.io
> +1-646-454-9107
> New York, New York 10001
>
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