BitLicense (New York)
New York Department of Financial Services’ licensing requirement for virtual currency businesses, including stablecoin issuers, with enhanced blockchain analytics in 2025.
What is BitLicense (New York)?
The BitLicense, administered by NYDFS since 2015, requires entities engaging in digital asset activities like stablecoin issuance to obtain approval, with 2025 expansions applying blockchain analytics expectations to banks for monitoring. In 2025, approvals like Bullish’s BitLicense and settlements with issuers for compliance failures underscore strict reserves and AML rules for USD-pegged stablecoins. The regime complements federal laws like the GENIUS Act, ensuring stablecoins meet oversight for consumer protection and financial integrity.
Related Terms
Perp DEX
A perp DEX is a decentralized exchange specializing in perpetual futures contracts for digital assets, enabling leveraged, non-expiring trades directly on-chain without intermediaries.
Cross-Chain Swap
A cross-chain swap is the exchange of digital assets between two different blockchain networks, facilitated by bridges or protocols to enable interoperability.
Incentive Mechanism (Prediction Market)
A system of rewards, typically financial, designed to encourage truthful participation in prediction markets.
EVM (Ethereum Virtual Machine)
A decentralized computation engine that executes smart contracts on the Ethereum blockchain.
DYOR
Do Your Own Research (DYOR) is a widely used acronym in the digital asset space, urging investors to independently verify information before committing funds to any project or token.
Alpha
An advantage in digital asset trading gained through early or exclusive access to information, strategies, or opportunities not yet widely known by market participants.