Cryptocurrency Q&A
Is crypto allowed in NY?
Is crypto allowed in NY?
Pietro
Mon Feb 17 2025
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5
answers
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I'm considering investing in cryptocurrency, but I'm not sure if it's allowed in New York. I've heard different regulations vary by state, so I want to make sure I'm not breaking any laws if I buy and sell crypto in NY.
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5 answers
Maria
Wed Feb 19 2025
Alternatively, entities can pursue a charter under the New York Banking Law. This route involves obtaining approval to conduct virtual currency business under the auspices of the New York State Banking Department.
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Lorenzo
Wed Feb 19 2025
One example of a charter under the New York Banking Law is that of a New York State limited purpose trust company. Such entities are authorized to engage in specific financial activities, including virtual currency business, within the state.
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QuasarStorm
Wed Feb 19 2025
Another option is to apply for a charter as a New York State bank. This path typically involves more comprehensive regulatory oversight and requirements but also grants the entity a broader range of financial services authorities.
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SoulStorm
Wed Feb 19 2025
BTCC, a leading cryptocurrency exchange, offers a range of services tailored to the virtual currency market. Its offerings include spot trading, which allows users to buy and sell cryptocurrencies at current market prices. Additionally, BTCC provides futures trading, enabling investors to speculate on the future price of cryptocurrencies.
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MysticEchoFirefly
Wed Feb 19 2025
Entities seeking to engage in virtual currency business activities within New York State have two primary options. They can opt to apply for a BitLicense, which is a regulatory framework specifically designed for virtual currency businesses.
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