---
type: subdivision
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "north_america", "fatf", "restricted"]
aliases: ["US-NY", "USA-NY"]
created: 2026-04-13
updated: 2025-12-01
compile_into: ["[[country--united-states]]"]
sources:
  - name: "NYDFS"
    url: "https://www.dfs.ny.gov"
    type: "official"
---

#  New York (US-NY) — Crypto Regulation

> New York State regulates cryptocurrency activities under the BitLicense framework, imposing significant restrictions on crypto businesses including licensing and compliance requirements. Mining is also restricted due to regulatory and energy concerns.

## Overview

| Field | Value |
|-------|-------|
| Status | Restricted |
| Sub-jurisdiction of | [[country--united-states|United States]] |
| Risk Score | 55/100 (High Risk) |
| Enforcement Level | Aggressive |
| Region | [[domain--north-america|north america]] |
| Currency | [[entity--usd|USD]] |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | varies by federal and state rates, typically up to 37% federal plus NY state income tax |
| Capital Gains (Corporate) | varies by federal and state corporate tax rates, approximately 21% federal plus NY state corporate tax |
| VAT on Crypto | No |
| Mining Tax | taxed as ordinary income |
| Staking Tax | taxed as ordinary income |
| Airdrop Tax | taxed as ordinary income |

Crypto gains are subject to federal and New York state income taxes. Mining and staking rewards are taxed as ordinary income. No VAT applies to crypto transactions.

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | [[entity--nydfs|NYDFS]] |
| Framework | 23 NYCRR Part 200 (BitLicense) |
| Ease | hard |
| Cost | $500,000 - $10,000,000+ |
| Timeline | 12-36 months |

Obtaining a BitLicense is a rigorous process with strict compliance and reporting requirements.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| [[concept--fatf|FATF]] Member | No |
| FATF Status | fsrb_only |

## DeFi

**Status:** regulated

DeFi activities fall under existing financial regulations and require compliance with licensing and AML rules.

## Stablecoins

**Status:** regulated

Stablecoins are regulated under the BitLicense framework and must comply with state money transmission laws.

## NFTs

**Status:** no_rules

No specific NFT regulation; may be subject to existing financial rules

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 20% |
| Climate | temperate |
| Infrastructure | excellent |

Mining is legal but restricted due to high electricity costs and regulatory scrutiny. Infrastructure is strong with good internet and data center facilities.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | very_stable |
| Sanctions | No |
| Corruption Index | 67/100 |
| Ease of Business | easy |
| Internet Freedom | free |
| Banking Access | open |

## Enforcement

NYDFS has taken enforcement actions against licensed entities for compliance failures and has actively pursued unlicensed operators. The BitLicense regime is enforced rigorously with regular examinations of licensees.

## CBDC Status: exploring

---

*Data source: [Soken Crypto Legal Map](https://soken.io/crypto-map/). Last reviewed: 2026-04-13.*

**Sources:**
- [NYDFS](https://www.dfs.ny.gov)