NY A10246

Operating a virtual currency business in New York without the required state license becomes a Class A misdemeanor under this bill

Unlicensed virtual currency activity involving $25,000+ in 30 days or $250,000+ in one year constitutes a Class E felony; the same charge applies when handling virtual currency known to be criminal proceeds

Unlicensed transactions totaling $50,000+ in 30 days or $500,000+ in one year elevates the offense to a Class D felony

Unlicensed virtual currency business activity of $100,000+ in 30 days or $1 million+ in one year constitutes a Class C felony

Covered activities include receiving, transmitting, storing, buying, selling, exchanging, administering, or issuing virtual currency