Crypto License in New York
Everything you need to know about New York’s Money Transmitter License crypto and the benefits it can bring to your company.
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Works in combination with other licenses in New York, allowing money transmitter projects
A crypto exchange license in the USA
More than 700 clients trusted us with their crypto project
Cost of a Cryptocurrency License in New York
Pricing for registration of a New York Crypto License.
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| Compare plans | ||
|---|---|---|
| Initial consultation | Included | Included |
| Turnkey Company Formation | Not included | Included |
| Registration as VASP with the Regulator | Not included | Included |
| Registered legal company address for 1 year | Not included | Included |
| Basic (mandatory) AML/KYC Policy | Not included | Included |
| Full communication with VASP Issuing authority for obtainment of authorization | Not included | Included |
| Translated and apostilled set of corporate documents | Not included | Included |
| Assistance in opening Business account for crypto operating activity | Not included | Included |
| Assistance in formulating requirements, finding, interviewing and written agreement with AML/MLRO for your crypto company | Not included | Included |
Your expert for this topic
Co-Founder and Managing Partner
Aaron Glauberman specializes in crypto and FinTech licensing, MiCA and PSD2 frameworks, and cross-border corporate structuring.
STORIES OF OUR CLIENTS AND HOW THEY WENT BEYOND WITH OUR ASSISTANCE
And what will you say once we make your project work?
Fast and Reliable. Quick set-up and straightforward process. It was a smooth process, we are happy to have chosen LegalBison as our Partner for incorporations, globally.
Very proactive. Very proactive, responsive, and able to provide solutions and advice. The firm is familiar with the new industry of blockchain and cryptocurrency
Reliable Partner. We are happy to cooperate with LegalBison for more than 2 years and during this time they definitely secured a reputation of very professional and reliable partner. Great knowledge, competence and good attitude. Keep up the good work!
Best for Crypto Licenses. Best company for Crypto Licenses! Kudos to the team for making the incorporation of our company really smooth
Highly recommended! The team of LegalBison was very helpful and fast in supporting my company’s structural set up. They are undoubtedly top-level experts when it comes to licensing and registrations in the crypto and web3 industry. Highly recommend!
A perfect fit for our business. I highly recommend Legal Bison to any entrepreneur or business seeking top-notch services for their company formation. Their commitment to excellence and customer satisfaction is truly commendable.
We felt genuinely supported. LegalBison helped us navigate a space that’s often uncertain and complex, which gave us the confidence to move forward with our project.
Excels at adapting to challenges. LegalBison excels at adapting to challenges and demonstrates a perfect understanding of our business needs.
A fruitful cooperation. As a result of the fruitful cooperation with LegalBison, Yellow Card obtained a VASP registration, fast and without any legal complications.
General information about New York Crypto License
Possible activities with a crypto license in New York
The main crypto activities permitted with a New York VASP license are:
- Custody;
- Fiat to crypto;
- Crypto exchange;
- ICO, ITO, Fundraising.
Who regulates crypto companies in New York
The BitLicense is patronized by the New York State Department of Financial Services.
Process to obtain a crypto license in New York
To acquire a crypto license in New York, you have to follow these steps:
- Prepare the business plan;
- Prepare the compliance procedures and policies in accordance with the AML & Bank Secrecy Act Policy;
- Register a company in the United States (preferably in the New York State);
- Open a surety bond or trust account in the USA;
- Prepare your application fine and gather documents as requested in the Application Checklist;
- File an application online through the NationWideLicensingSystem website.
The main crypto activities permitted with a New York VASP license are:
- Custody;
- Fiat to crypto;
- Crypto exchange;
- ICO, ITO, Fundraising.
The BitLicense is patronized by the New York State Department of Financial Services.
To acquire a crypto license in New York, you have to follow these steps:
- Prepare the business plan;
- Prepare the compliance procedures and policies in accordance with the AML & Bank Secrecy Act Policy;
- Register a company in the United States (preferably in the New York State);
- Open a surety bond or trust account in the USA;
- Prepare your application fine and gather documents as requested in the Application Checklist;
- File an application online through the NationWideLicensingSystem website.
Requirements to obtain a crypto license in New York
The list of the main components to prepare for obtaining a New York crypto license goes as follows:
US-registered company
A company registered in the United States.
Advanced business plan
More advanced business plan with Cash Flow 3 years budgeting forecast.
Internal risk policies
Professionally prepared documents describing internal risk policies according to the local AML laws.
Local personnel
Local personnel to administrate the company in the State of New York.
Service description
Description of services offered to customers within the first 3-9 months after granting the license.
Raised share capital
A raised share capital.
WHICH JURISDICTION AND LICENSE TO CHOOSE FOR YOUR PROJECT
Alternatives to a crypto license in New York
Our team has curated the following jurisdictions as being worthy alternatives to a crypto licensed company in New York:
FinlandCrypto License in Finland
on request
- Prestigious Nordic jurisdiction
- Reliable and trusted framework
- Simple authorization process
PolandCrypto License in Poland
from 3.650 €
- Fastest licensing process
- Lowest price
- Available ready-made companies
No offers are listed for this selection.
About Crypto License in New York
The right path forward, regardless of project stage
Yes, one of the requirements is to have at least one director who is a local resident. It is important to state that nominee directors are illegal in New York.
Yes, your company must have substance in the State of New York, which in turn means you need a physical office and not just a letterbox.
Yes. The nature of banks working with crypto businesses is changing almost on a daily basis. Our professionals know the most effective solutions for different business needs.
Yes, we can design a business plan for any kind of venture. We have experience dealing with granting authorities and are well aware of their expectations of applicants.
No, only individuals from blacklisted countries (f.e. North Korea) will not be able to proceed with this license.
Information on this page is general and may change as regulations change. It isn’t legal, tax, or investment advice. Contact us for advice on your situation. Read our full disclaimer.
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