Are there any restrictions on buying crypto in New York?

3 answers

• Street CodingSep 28, 2025 · 2 months ago
  Yes, there are restrictions on buying crypto in New York. The state has implemented the BitLicense, which is a regulatory framework for virtual currency businesses. To operate in New York, cryptocurrency exchanges and businesses need to obtain a BitLicense from the New York State Department of Financial Services (NYDFS). This license ensures that these businesses comply with certain security, consumer protection, and anti-money laundering requirements. So, if you want to buy crypto in New York, you'll need to use an exchange that has obtained a BitLicense.
  562

  281
• Rick jmdfJan 25, 2021 · 5 years ago
  Buying crypto in New York is subject to certain restrictions. The BitLicense, introduced by the NYDFS, is a set of regulations that virtual currency businesses must adhere to in order to operate in the state. These regulations aim to protect consumers and prevent money laundering. Therefore, when purchasing cryptocurrency in New York, it's important to choose a platform that is compliant with the BitLicense requirements.
  424

  142
• Contreras HarveyMay 23, 2024 · a year ago
  As an expert in the crypto industry, I can confirm that there are restrictions on buying crypto in New York. The state has implemented the BitLicense, which has been a topic of discussion among crypto enthusiasts. While some argue that it provides necessary regulations to protect consumers, others believe it creates unnecessary barriers for businesses. Regardless of the opinions, if you're looking to buy crypto in New York, make sure to choose a platform that has obtained the BitLicense to ensure compliance with the state's regulations.
  542

  136