Why is BitMart not allowed in NY?

Why is it that BitMart, a popular cryptocurrency exchange platform, is not allowed to operate in the state of New York? Is there a specific regulatory framework or policy in place that prohibits such services from being offered within the state? What are the potential risks or concerns that have led to this decision? Are there any alternative options for New York residents looking to engage in cryptocurrency trading? And how does this situation compare to other states or countries in terms of cryptocurrency regulation?