BitLicense — New York's Digital Asset License
The BitLicense, enacted by New York DFS in 2015, is the most comprehensive state-level digital asset license in the US, requiring any company providing virtual currency services to New York residents to obtain approval through a rigorous, 1-3 year review process.
FSOC — Financial Stability Oversight Council
The Financial Stability Oversight Council coordinates regulatory oversight among all major US financial regulators — and its annual reports increasingly flag crypto and tokenization as potential systemic risks, with authority to designate activities for enhanced oversight.
Money Transmitter License (MTL)
A Money Transmitter License is a state-issued license required for businesses that transfer money or value on behalf of customers — in most US states, this includes cryptocurrency exchanges, stablecoin issuers, and some tokenization platforms.
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.