Manhattan District Attorney urges New York State lawmakers to classify unlicensed crypto businesses as a criminal offense

CoinVoice · 2026-01-15T05:28:47+00:00

Manhattan District Attorney Bragg calls for making unlicensed crypto businesses a criminal offense, emphasizing that regulatory blind spots have led to a thriving large-scale criminal economy. He advocates for mandatory licensing and KYC regulations and warns that violators will face criminal charges. If the proposal passes, New York will become the 19th state to criminalize unlicensed crypto operations.

CoinVoice

2026-01-15 05:28:47

Abstract generation in progress

CoinVoice has learned that, according to Decrypt, Manhattan District Attorney Alvin Bragg is urging New York State legislators to classify unlicensed crypto businesses as criminal offenses and is calling for enhanced enforcement tools to combat crypto crimes. Bragg warns that a criminal economy worth $51 billion is thriving in regulatory blind spots, enabling criminals to launder funds from guns, drugs, and fraud without punishment. He specifically points out that unlicensed crypto ATMs that charge fees of up to 20% to convert cash into digital assets are one of the main issues. He advocates that all crypto businesses must undergo mandatory licensing and comply with Know Your Customer (KYC) regulations, with violators facing criminal charges. If the proposal passes, New York will become the 19th state in the US to criminalize unlicensed crypto operations.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.