The Securities and Exchange Commission’s recent actions against Binance and Coinbase show that the commission is worried about the business model of crypto-trading platforms. In its complaint against Binance, for example, the SEC expressed concerns about the offering of “three essential securities market functions – exchange, broker-dealer, and clearing agency” – that are typically kept separate and the offer and the sale of crypto-lending products. These enforcement actions come after a series of scandals and market crashes, including at FTX, Celsius, and Voyager. Own your market Cryptocurrency comes under many names. You have probably read about some of the most popular types of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Cryptocurrencies are increasingly popular alternatives for online payments. Before converting real dollars, euros, pounds, or other traditional currencies into ₿ (the symbol for Bitcoin, the most popular cryptocurrency), you should understand what cryptocurrencies are, what the risks are in using cryptocurrencies, and how to protect your investment.

Don’t get me wrong — you can still buy crypto in New York. It’s just that your options for doing so are limited compared to other US states and more crypto-friendly jurisdictions abroad. Conclusion: KuCoin case in New York shows: crypto has a hard time in the US Disclaimer: DFS may, at any time and in its sole discretion, prohibit or otherwise limit a coin’s use before or after a VC Entity begins using a coin; require that any VC Entity delist, halt, or otherwise limit or curtail activity with respect to any coin; remove any coin from the Greenlist; refrain from placing any coin on the Greenlist; or discontinue the Greenlist process entirely. DFS may also update its current self-certification guidance in its sole discretion.