What are the laws governing the trading of crypto-currencies?

In New York, the laws governing the trading of crypto-currencies are generally governed by the Alternative Investment Law (AIL). Under the AIL, crypto-currencies are considered alternative investments and are regulated by the Financial Services and Markets Authority, which is part of the New York State Department of Financial Services. According to the AIL, crypto-currency exchanges, which are also regulated by the Financial Services and Markets Authority, must obtain a license before they can operate in New York. This license requires them to implement certain measures of security, such as strong encryption and other security protocols. In addition, crypto-currency exchanges must also comply with all applicable federal laws. According to the Commodity Futures Trading Commission, crypto-currencies are commodities and are subject to rules and regulations related to derivatives trading. Therefore, crypto-currency exchanges must register with the CFTC in order to be able to operate legally in New York. Crypto-currencies are also subject to laws regarding taxation, money laundering and other financial crimes. As such, transactions involving crypto-currency exchanges in New York must be compliant with all local and federal laws. In conclusion, the laws governing the trading of crypto-currencies in New York are set out in the Alternative Investment Law and require crypto-currency exchanges to obtain a license and to comply with all applicable federal and local laws.

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What are the laws governing the trading of crypto-currencies?

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