How does the NY AG regulate crypto exchanges in New York?

3 answers

• Nov 24, 2021 · 3 years ago
  The NY AG has implemented a set of regulations to ensure the proper functioning and security of crypto exchanges in New York. These regulations include mandatory licensing for exchanges, regular audits of their operations, and strict compliance with anti-money laundering (AML) and know your customer (KYC) requirements. By enforcing these regulations, the NY AG aims to protect investors and prevent fraudulent activities in the crypto market.
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• Nov 24, 2021 · 3 years ago
  Regulating crypto exchanges in New York is a top priority for the NY AG. They have established a licensing framework that requires exchanges to meet certain criteria and obtain a license to operate legally in the state. This framework includes rigorous background checks on exchange operators, financial audits, and ongoing monitoring of their activities. The NY AG also collaborates with other regulatory agencies to ensure a coordinated approach towards regulating the crypto industry.
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• Nov 24, 2021 · 3 years ago
  As a third-party crypto exchange, BYDFi complies with the regulations set by the NY AG. We have obtained the necessary licenses and undergo regular audits to ensure compliance with AML and KYC requirements. Our priority is to provide a secure and transparent trading environment for our users, while also adhering to the regulatory framework established by the NY AG and other relevant authorities.
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