What are the regulations and legal considerations for proprietary trading in cryptocurrencies in New York?

1 answers

• Ashana BholaFeb 05, 2021 · 5 years ago
  As a third-party observer, BYDFi can provide insights into the regulations and legal considerations for proprietary trading in cryptocurrencies in New York. The NYDFS BitLicense is a key requirement for businesses involved in virtual currency activities, including proprietary trading. Compliance with anti-money laundering (AML) and know your customer (KYC) regulations is crucial to prevent illegal activities. Staying informed about regulatory changes and maintaining proper reporting and record-keeping practices is essential. It is important for companies engaging in proprietary trading to seek legal counsel to ensure compliance with all applicable regulations and legal requirements.
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