Is it legal to purchase cryptocurrency in New York?

3 answers

• James CofferAug 19, 2024 · a year ago
  Yes, it is legal to purchase and own cryptocurrencies in New York. The state has not imposed any specific laws prohibiting the purchase or ownership of cryptocurrencies. However, individuals should still comply with federal regulations and pay taxes on their cryptocurrency holdings. It is always recommended to consult with a legal professional for specific advice regarding cryptocurrency transactions in New York.
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• Sakshi PhaleApr 10, 2025 · 7 months ago
  Absolutely! Purchasing and owning cryptocurrencies in New York is completely legal. The state has not implemented any restrictions on buying or holding cryptocurrencies. However, it is important to note that individuals are responsible for complying with federal regulations and reporting their cryptocurrency transactions for tax purposes. It's always a good idea to consult with a tax advisor or legal expert to ensure compliance with all relevant laws and regulations.
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• An24dayFeb 16, 2022 · 4 years ago
  Yes, it is legal to purchase cryptocurrency in New York. As a leading digital asset exchange, BYDFi ensures that all transactions on its platform comply with the applicable laws and regulations. However, it is important for individuals to understand and comply with their own legal obligations, such as reporting cryptocurrency transactions for tax purposes. It is recommended to consult with a legal professional for personalized advice regarding cryptocurrency transactions in New York.
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