Crypto Payments Firm Gains Full U.S. Coverage With Regulatory Approvals in New York

MoonPay, a global cryptocurrency payments provider, announced on June 4 that it is now authorized to operate in all 50 U.S. states after receiving both a BitLicense and a money transmitter license from the New York State Department of Financial Services (NYDFS). The regulatory milestone makes MoonPay one of only 35 digital currency firms currently licensed to operate in New York — one of the nation’s most challenging regulatory environments.

The approval allows MoonPay to offer its crypto payments services nationwide without jurisdictional gaps, reinforcing its presence in one of the world’s largest digital asset markets.

BitLicense Approval Marks a Key Expansion

“With the approval of our New York BitLicense and Money Transmitter Licenses, MoonPay now holds the golden regulatory stack for crypto in the U.S., allowing us to directly serve customers in every single state,” said Ivan Soto-Wright, MoonPay’s co-founder and CEO.

The dual approval marks a significant step in the company’s U.S. expansion, particularly given New York’s strict regulatory regime under the BitLicense framework. Businesses seeking to engage in digital asset transactions or custody for New York residents must apply for and be granted the license, a process widely regarded as complex and time-consuming.

MoonPay joins a list of major crypto firms — including Coinbase, Circle, Gemini, and Anchorage Digital — that have cleared the BitLicense hurdle to establish full-scale operations in New York.

Regulatory Patchwork Navigation Now Complete

MoonPay’s approval in New York comes after years of navigating what Soto-Wright called a “patchwork of regulatory regimes” across individual states. While many U.S. states have more permissive frameworks for digital asset businesses, New York’s BitLicense, introduced in 2015, remains one of the most stringent and comprehensive.

By obtaining approvals in all states — including New York — MoonPay now operates under a fully compliant regulatory framework across the U.S., allowing it to offer services such as crypto purchases, onramps for NFTs, and wallet integrations to customers nationwide.

The company said that the final approval clears the way for its broader growth strategy, including plans to open a new headquarters in New York City, announced in May 2025.

MoonPay Aligns With MiCA in Europe

MoonPay’s New York approval comes on the heels of its regulatory breakthrough in Europe. In December 2024, the company received authorization to operate as a licensed crypto business in the Netherlands under the European Union’s Markets in Crypto-Assets (MiCA) framework — another regulatory milestone that solidifies MoonPay’s position in both U.S. and EU markets.

The dual compliance underscores MoonPay’s ambition to become a trusted, globally compliant crypto infrastructure provider, particularly at a time when regulatory clarity is becoming a key differentiator among crypto firms.

BitLicense Under Political and Legal Scrutiny

Despite its importance, the BitLicense program remains controversial and under active political scrutiny. At the Bitcoin 2025 conference in Las Vegas, New York City Mayor Eric Adams called for an end to the BitLicense regime, arguing that the current system discourages innovation and deters crypto businesses from launching in the state.

While Adams has been a vocal supporter of cryptocurrency adoption in New York, critics say the state’s complex and costly licensing requirements create barriers to entry, especially for startups and smaller firms.

The BitLicense program has also been at the center of legal settlements. In January 2024, Genesis Global Trading surrendered its BitLicense as part of a settlement with the NYDFS over allegations of defrauding investors through its role in the Gemini Earn program.

Mayor Adams Balances Politics and Crypto Advocacy

Mayor Adams’ call to reform the BitLicense comes amid legal controversies of his own. Federal officials recently directed local prosecutors to drop a corruption case against the mayor, fueling debate over his broader political agenda.

Despite the legal distractions, Adams has maintained a pro-crypto stance, hosting a New York City crypto summit earlier this year and continuing to speak at major events, including Bitcoin 2025. His administration has promoted New York as a hub for blockchain innovation, even while the state maintains some of the toughest regulations in the country.

What This Means for the Crypto Industry

MoonPay’s successful licensing in all 50 states could serve as a blueprint for other crypto companies seeking nationwide compliance in the United States. It also reflects a growing trend among crypto firms to embrace regulatory oversight rather than work around it — particularly in light of recent federal policy shifts under the Trump administration favoring greater crypto integration in traditional finance.

In parallel with its U.S. expansion, MoonPay’s global regulatory wins in Europe position it to serve as an onboarding solution across multiple continents, which could prove valuable as cross-border crypto adoption accelerates.

Conclusion

With its BitLicense and money transmitter licenses now in hand, MoonPay has joined an elite group of crypto companies fully licensed to operate across all 50 U.S. states. The regulatory achievement opens the door to nationwide service coverage, sets the stage for deeper institutional partnerships, and highlights the company’s role as a compliant player in the evolving crypto landscape.

As regulatory frameworks continue to mature in both the U.S. and Europe, MoonPay’s dual compliance may give it a competitive edge — especially in a market increasingly shaped by the intersection of fintech and regulation.