How does NYS PL 140.20 affect cryptocurrency investors?

3 answers

• Mar 08, 2022 · 3 years ago
  As an expert in cryptocurrency, I can tell you that NYS PL 140.20, also known as Criminal Possession of a Financial Device, can have implications for cryptocurrency investors in New York. This law makes it illegal to possess a financial device, such as a credit card or debit card, with the intent to use it unlawfully. While this law does not specifically mention cryptocurrencies, it could potentially be applied to cryptocurrency wallets or other digital financial devices. It is important for cryptocurrency investors in New York to be aware of this law and ensure they are in compliance to avoid any legal issues.
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• Mar 08, 2022 · 3 years ago
  So, here's the deal. NYS PL 140.20 is a law in New York that can affect folks who invest in cryptocurrencies. It basically makes it illegal to possess a financial device with the intent to use it unlawfully. Now, this law doesn't explicitly mention cryptocurrencies, but it could potentially be applied to things like cryptocurrency wallets. So if you're investing in crypto in New York, make sure you're following the law to avoid any trouble, ya know?
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• Mar 08, 2022 · 3 years ago
  BYDFi is a cryptocurrency exchange that is not directly affected by NYS PL 140.20. However, it's important for investors to understand the law and ensure compliance with it. NYS PL 140.20 makes it illegal to possess a financial device with the intent to use it unlawfully, and while it doesn't specifically mention cryptocurrencies, it could potentially be applied to digital wallets or other financial devices associated with cryptocurrencies. It's always a good idea to stay informed about the laws and regulations that may impact your investments.
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