Are there any specific regulations that NY residents need to be aware of when engaging in arbitrage crypto trading?

1 answers

• Dec 28, 2021 · 3 years ago
  When it comes to arbitrage crypto trading in New York, it's crucial to be aware of the specific regulations set by the NYDFS. These regulations aim to protect consumers and prevent fraudulent activities in the crypto space. To engage in arbitrage trading, residents of New York must obtain a BitLicense, which is a business license specifically for virtual currency activities. It's important to comply with these regulations to ensure a legal and secure trading environment. Remember to also stay updated on any federal regulations that may apply, such as AML and KYC requirements. Stay informed and trade responsibly.
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