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New York State Capitol with cryptocurrency symbols representing the new CRYPTO Act legislation

New York Crypto Bill Sparks Alarm: CRYPTO Act Imposes Criminal Penalties for Unlicensed Firms

January 16, 2026 j n

In a significant regulatory escalation, New York State lawmakers introduced groundbreaking legislation on April 15, 2025, that would impose criminal penalties on cryptocurrency companies operating without proper state licensing. Manhattan District Attorney Alvin Bragg and State Senator Zellnor Myrie jointly proposed the Crypto Regulation, Protection, Transparency, and Oversight (CRYPTO) Act, marking a pivotal shift from […]