What are the regulations for buying and selling digital currencies in New York?

2 answers

• May 14, 2022 · 3 years ago
  As for individuals who want to buy or sell digital currencies in New York, there are currently no specific regulations that prohibit or restrict individuals from engaging in such transactions. However, it is important to note that individuals must still comply with applicable tax laws and report their digital currency transactions to the Internal Revenue Service (IRS). The IRS treats digital currencies as property for tax purposes, which means that capital gains or losses from the sale or exchange of digital currencies may be subject to taxation. It is advisable to consult with a tax professional to ensure compliance with tax obligations when buying or selling digital currencies in New York.
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• May 14, 2022 · 3 years ago
  At BYDFi, we understand the importance of complying with regulations and ensuring the security of digital currency transactions. We have implemented robust AML and KYC procedures to protect our users and prevent illicit activities. Our platform is designed to provide a safe and transparent environment for buying and selling digital currencies in compliance with the regulations in New York. We strive to maintain the highest standards of security and compliance to ensure a seamless and trustworthy trading experience for our users.
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