New York

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    In July of 2014, the state of New York introduced new regulations on the business licenses of companies involving virtual currency.

    The state of New York specifically amended laws that impact companies “receiving virtual currency for Transmission or Transmitting virtual Currency, except where the transaction is undertaken for non-financial purposes and does not involve the transfer of more than a nominal amount of virtual currency”.

    Binance falls under these categories and immediately stopped providing its services to residents of the State of New York.

    Answered on August 7, 2019.
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