MoonPay granted BitLicence and Money Transmitter Licence in New York

In essence, this will allow the firm to legally offer its cryptocurrency services in New York State. The regulatory approvals enable MoonPay to expand its fiat-to-crypto operations, including buying and selling digital assets, to users in one of the United States' most tightly regulated markets. 

With these licences, MoonPay now holds regulatory authorisations to operate across all 50 US states. This includes money transmission licences in 46 jurisdictions outside New York. The company also maintains registrations in the United Kingdom, Australia, Canada, Italy, Ireland and Jersey. In late 2024, it became one of the first firms to obtain a crypto asset service provider licence under the European Union’s Markets in Crypto-Assets (MiCA) framework.

Expanding regulatory coverage

The authorisation from NYDFS positions MoonPay among a limited group of firms allowed to conduct virtual currency business in New York. According to company officials, this development enables MoonPay to offer uninterrupted service across the entire United States. 

Officials from MoonPay indicated that acquiring the New York licences was a major step in completing the company’s compliance framework in the US, and that the firm intends to continue engaging with regulators to expand access to crypto services nationwide. 

This development follows the launch of MoonPay’s new US headquarters in New York City, its largest domestic office to date. 

MoonPay’s initiative to establish a new office in the US came in the context of a period of growth for the US’s crypto sector, with regulatory clarity continuing to advance. The company intends to facilitate the development of a regulatory framework that supports improvement while safeguarding consumers.  

In addition to participating in the Commodity Futures Trading Commission’s (CFTC) Crypto CEO Forum and joining other companies such as Tether, Ripple, Coinbase, Circle, and Crypto.com, representatives from MoonPay sent a letter to Congress supporting amendments proposed by the Conference of State Bank Supervisors (CSBC) to the STABLE and GENIUS Acts. In the letter, MoonPay encouraged equal recognition of state-regulated stablecoin issuers while also warning against legislation that could hinder state-level companies and reduce competition.