New York DFS — BitLicense and America's Strictest Digital Asset Regime
The New York Department of Financial Services administers BitLicense, the US's most stringent state digital asset regulatory framework, with approximately 30 licensees including Coinbase, Gemini, Circle, and Ripple as of 2026.
New York's BitLicense: America's Most Demanding Crypto Regulatory Framework
New York's BitLicense (2015) remains the most stringent crypto business license in the United States. It covers virtual currency businesses operating in New York, requires extensive compliance infrastructure, and has been obtained by fewer than 50 companies in a decade.
State-by-State Digital Asset Regulation: The 50-State Compliance Map for Tokenized Securities
Beyond federal law, tokenized security issuers face a patchwork of state money transmission laws, Blue Sky securities regulations, and state-specific blockchain statutes. This map identifies the key state-level compliance considerations for US tokenization.