Mapping out New York’s regulatory/licensure ecosystem
Quick Take
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The regulatory environment surrounding the New York cryptocurrency ecosystem has been evolving since crypto companies first filed for Money Transmitter Licenses back in 2013.
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Any person or company conducting Virtual Currency Business Activity must attain a BitLicense as stated under the N.Y. Comp. Codes R. & Regs. Tit. 23 § 200.
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Businesses that have received the Superintendent’s approval in conjunction with being chartered under the New York Banking Law may engage in Virtual Currency Business Activity without holding a BitLicense.
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In total, the Block has identified 39 companies across 6 verticals in New York’s regulatory/licensure ecosystem in addition to a vertical dedicated to breaking down the N.Y. Comp. Codes R. & Regs. Tit. 23 § 200.
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Author: Melanie Goldsmith
