Why can't New York use crypto com? (2024)

Crypto.com is not available in New York. For the same reason, other companies are not available: because of the special regulatory license that is hard to get. Binance is the world's largest and most known crypto exchange, but BINANCE IS NOT available to New York residents.

Why is crypto not available in NY?

In October 2021, Attorney General James directed unregistered crypto lending platforms to cease operations for not registering with the state. Attorney General James once again urges New Yorkers who have been affected by deceptive conduct in the virtual assets market to report these issues to OAG.

Is crypto com legal in New York?

Yes! It is legal to buy cryptocurrency in New York, it is simply not legal to operate a crypto company doing business in New York without holding a valid BitLicense.

Is crypto com now available in New York?

Within the U.S., Crypto.com isn't available to New York residents. Also, if you plan on using a credit or debit card, expect to pay some hefty fees—as high as 4%. While there are workarounds, like using ACH transactions, not all banks can be connected to Crypto.com.

Does crypto com report to IRS?

Does Crypto.com report to the IRS? Crypto.com provides American customers with a Form 1099-MISC when they earn more than $600 in ordinary income from Crypto.com. In the past, Crypto.com issued Form 1099-K to users and the IRS. Crypto.com no longer sends this tax form as of the 2022 tax year.

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Is crypto com traded on the New York Stock Exchange?

In another big move for the cryptocurrency space, the New York Stock Exchange (NYSE) has announced a strategic partnership with leading crypto exchange Crypto.com to launch “The First Trade,” an initiative that would unveil non-fungible tokens (NFTs) to celebrate six stocks listed on the famous exchange.

Can I use Binance in New York?

Binance.US is available to many, albeit not all, U.S. residents. It's important to note that this crypto exchange is not available to residents of Hawaii, New York, Texas and Vermont.

Can I use MoonPay in New York?

MoonPay cannot be used in these US states and territories: Louisiana. New York. Texas.

What states do not tax crypto currency?

However, there is no tax for simply owning cryptocurrency. What states have no crypto tax? Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming have no state income taxes (although New Hampshire and Tennessee tax interest and dividends while Washington taxes capital gains).

What time does NY Open crypto?

What time does the crypto market open? Cryptocurrency markets open at 12:00 am and run through to 12:00pm, so you can open and close positions 24 hours a day – even on the weekend.

What is the Bitcoin law in NY?

Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years, unless a proof-of-work mining company uses 100% renewable energy, it will not be allowed to expand or renew permits, and new entrants will not be allowed to come online.

Is Robinhood available in New York?

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The New York's DFS has officially approved a virtual currency license (BitLicense) and a money transmitter license to popular stock and cryptocurrency trading app Robinhood. Claim the JACKPOT with 55 FREE SPINS. Signup today to redeem your bonus.

How do I avoid IRS with crypto currency?

9 Different Ways to Legally Avoid Taxes on Cryptocurrency

How do I legally avoid crypto taxes?

How To Minimize Crypto Taxes

Which US state is crypto friendly?

Cryptocurrency enthusiasts may want to consider moving to Nevada: It ranks as the No. 1 most crypto-friendly state in the U.S., according to a 2022 SmartAsset study. This is due to a number of factors, including high availability of jobs within the crypto industry and crypto-friendly legislation.

Is Coinbase available in New York?

Coinbase is the most popular crypto exchange in the U.S. and is available to New York residents.

Can I use Uniswap in New York?

Financial infrastructure

For New Yorkers who are willing to brave the waters of decentralized exchanges, all of the top DEXs — such as Uniswap, 1inch, PancakeSwap, SushiSwap and others — can be accessed from the city.

Can I use KuCoin in New York?

Unfortunately, you cannot use Kucoin in New York or other US states.

Can I use Kraken in New York?

While Kraken does operate in the U.S., it has some geographic restrictions. The platform is not available to users in New York and Washington.

Can I use VPN for Binance in New York?

Yes, it's perfectly legal to use a VPN with Binance. However, you should bear in mind that Binance is banned in the US. Therefore, using a VPN to access it while you're in the US goes against Binance's Terms of Service. If Binance detects that you're using a VPN, it might ban you from the site.

How to buy Shiba Inu coin in NY?

You can buy Shiba Inu (SHIB) on multiple exchanges and brokerages in New York, such as Robinhood, Coinbase and Gemini.
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Is crypto com going under?

It doesn't appear that Crypto.com will collapse any time soon, but this also doesn't mean that the exchange will thrive. The goal at this point is for Crypto.com to survive.

What will CRO be worth in 2025?

Following the price trend in the past years, the possible low and high prices should be around $0.45 and $0.53, respectively, in 2025. According to our CRO price prediction for 2025, the suggested average price is $0.49, with a percentage change of 15%.

What happened to crypto com?

Key takeaways. Digital assets exchange Crypto.com has laid off 20% of its global workforce. The announcement is the latest in a long line of crypto companies downsizing operations, many citing FTX's downfall as a key reason.

How does IRS know if you own crypto?

Yes, the IRS can track cryptocurrency, including Bitcoin, Ether and a huge variety of other cryptocurrencies. The IRS does this by collecting KYC data from centralized exchanges.