Crypto in New York
10 exchanges we have verified serve residents of New York, and 72 of the 150 assets we track are available on at least two of them. New York requires a BitLicense or a limited purpose trust charter from the Department of Financial Services, so several large exchanges including Kraken, Binance US and Crypto.com do not serve New York residents. Last verified September 2, 2026.
Verified How we verify
Legal Status and Regulation
New York requires a license no other state asks for. Since June 2015 the Department of Financial Services has required a virtual currency license under 23 NYCRR Part 200, the BitLicense, or a New York limited purpose trust charter, from anyone transmitting, custodying, buying, selling or exchanging virtual currency for New York residents. More than forty firms hold one, among them Coinbase, Gemini, Bitstamp, Circle and PayPal. The Department also maintains a greenlist of coins its licensees may offer without separate approval. Federal law comes first: a business that exchanges dollars for crypto on your behalf is a money transmitter under 31 CFR 1010.100(ff)(5) and has to register with FinCEN as a money services business, renewing that registration every two years. New York does not appear among the thirty-one states that had enacted the Conference of State Bank Supervisors' Money Transmission Modernization Act in whole or in part as of the CSBS legislative update dated June 2026. As of September 2026 Kraken does not serve New York residents, Binance US lists New York as unsupported, and the Crypto.com App covers 49 states but not New York.
Exchanges Available in New York
| Exchange | Type | Typical fee on $500 | KYC | Action |
|---|---|---|---|---|
| Strike | broker | $5.55 | Required | Visit Strike |
| Bitstamp by Robinhood | centralized exchange | $11.00 | Required | Visit Bitstamp by Robinhood |
| Coinbase Exchange | centralized exchange | — | Required | Visit Coinbase Exchange |
| Toobit | centralized exchange | — | Not required | Visit Toobit |
| eToro | broker | — | Required | Visit eToro |
| Gemini | centralized exchange | — | Required | Visit Gemini |
| bitFlyer | centralized exchange | — | Required | Visit bitFlyer |
| Bullish | centralized exchange | — | Required | Visit Bullish |
| PayPal | broker | — | Required | Visit PayPal |
| Cash App | broker | $13.75 | Required | Visit Cash App |
Fees are estimated from each exchange’s published schedule for a $500 market buy. Rankings follow our methodology and are not influenced by affiliate relationships.
Popular Assets in New York
Buyability in New York
The 10 coins we have verified an exchange for in New York, graded on how many verified exchanges sell them here and what the cheapest $500 purchase costs. Price never moves a grade.
| Coin | Ticker | Grade | Verified exchanges | Cheapest on $500 | Where to buy |
|---|---|---|---|---|---|
 Bitcoin | BTC | A | 10 | $2.00 | Bitcoin here |
 Ethereum | ETH | A | 8 | $2.00 | Ethereum here |
 XRP | XRP | A | 7 | $2.01 | XRP here |
 Solana | SOL | A | 7 | $2.00 | Solana here |
 Chainlink | LINK | A | 7 | $2.28 | Chainlink here |
 Bitcoin Cash | BCH | A | 7 | $2.25 | Bitcoin Cash here |
 Litecoin | LTC | A | 7 | $2.15 | Litecoin here |
 Dogecoin | DOGE | A | 6 | $2.04 | Dogecoin here |
 Uniswap | UNI | A | 6 | $2.14 | Uniswap here |
 Sui | SUI | A | 6 | $2.22 | Sui here |
Tax Overview
The IRS treats cryptocurrency as property under Notice 2014-21, so selling or swapping it produces a capital gain or loss, short-term if you held the asset a year or less. New York applies no crypto-specific tax rule, so a gain that is taxable federally is reported on your New York individual income tax return and taxed at the state's individual income tax rates. Rates and brackets change from year to year, so check the current New York schedule before you file. Accurate as of September 2026.
Guides
- Is Crypto Legal in the United States? State-by-State Overview
Owning, buying, and selling cryptocurrency is legal in every US state, but the exchanges that serve you are licensed state by state, which is why the same exchange can be open to residents of one state and closed to residents of the next.
- Crypto Estate Planning: Making Sure Your Coins Aren't Lost With You
Passing on cryptocurrency requires two things that an ordinary will does not provide on its own, a record of what exists and where, and a route by which the person inheriting it can reach the keys, because no court order can recover a seed phrase nobody wrote down.
- Self-Custody vs Exchange Custody: How to Decide
Deciding between self-custody and exchange custody means choosing which failure you would rather be exposed to, a company that loses or freezes your assets or a mistake of your own that nobody can undo, and most people resolve it by splitting holdings rather than picking one for everything.
Frequently Asked Questions
- Is cryptocurrency legal in New York?
- 10 exchanges we have verified serve residents of New York. New York requires a BitLicense or a limited purpose trust charter from the Department of Financial Services, so several large exchanges including Kraken, Binance US and Crypto.com do not serve New York residents. See the regulation section for detail.
- Which exchanges work in New York?
- Strike, Bitstamp by Robinhood, and Coinbase Exchange serve residents of New York.
- Do I pay tax on crypto in New York?
- The IRS treats cryptocurrency as property under Notice 2014-21, so selling or swapping it produces a capital gain or loss, short-term if you held the asset a year or less. New York applies no crypto-specific tax rule, so a gain that is taxable federally is reported on your New York individual income tax return and taxed at the state's individual income tax rates. Rates and brackets change from year to year, so check the current New York schedule before you file. Accurate as of September 2026.