New York Bitcoin Reserves and Cryptocurrency Laws

New York Bitcoin Reserves and Cryptocurrency Legislation

New York Bitcoin Reserve Overview

No Official Reserves
Highly Restrictive Regulatory Status
Stringent BitLicense and Mining Regulations

New York Bitcoin Reserves

New York Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
New York (NY)	No Official Reserves	0%	Highly Restrictive	2025-01-15	A9275/S8486 (2025): New York Responsible Bitcoin Mining Act, proposes emissions limits and environmental reviews for mining; pending as of May 2025 BitLicense (2015): Requires licenses for crypto businesses; $5,000 fee, $500K net worth, and extensive compliance Two-year mining moratorium (2022): Bans new fossil fuel-based Bitcoin mining until environmental impact study completed (ended 2024) State income tax (4–10.9%) and federal capital gains tax (15–20%) apply to crypto earnings ~600,000 residents (~3% of population) use crypto; $12B in transactions (2023–2024, est.) Approximately 40 Bitcoin ATMs, primarily in New York City and Buffalo (2024) No legislation for state-held Bitcoin reserves as of 2025

New York Bitcoin Reserve Status

Current status: NO OFFICIAL RESERVES

New York has not established a state Bitcoin reserve, and no legislation for such a reserve has been proposed as of May 2025. The state’s regulatory environment is highly restrictive, with the BitLicense (2015) imposing stringent licensing requirements and the 2022 mining moratorium limiting Bitcoin mining. The New York Responsible Bitcoin Mining Act (A9275/S8486, 2025) proposes further restrictions on mining emissions, reflecting environmental concerns but stifling crypto innovation.

No funds have been allocated for Bitcoin reserves. New York prioritizes regulatory oversight and environmental restrictions over state-held reserves or crypto adoption.

1/15/2025

PROPOSED

A9275/S8486, the New York Responsible Bitcoin Mining Act, was introduced, proposing emissions limits and environmental reviews for Bitcoin mining; the bill is pending.

11/22/2022

SIGNED INTO LAW

A two-year moratorium on new fossil fuel-based Bitcoin mining was signed by Governor Kathy Hochul, requiring an environmental impact study; the moratorium ended in 2024.

6/23/2015

IMPLEMENTED

The BitLicense regulation was implemented by the NYDFS, requiring licenses for crypto businesses with a $5,000 fee, $500K net worth, and extensive compliance.

New York Bitcoin Reserves and Cryptocurrency Legislation

New York Bitcoin Reserve Overview