Mapping out New York’s regulatory/licensure ecosystem

Quick TakeThe regulatory environment surrounding the New York cryptocurrency ecosystem has been evolving since crypto companies first filed for Money Transmitter Licenses back in 2013.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. 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.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.