And, while New York City is admittedly a hub for hubris, it’s not so bizarre to imagine the city as a center for crypto too. This was true before the crypto market crash last year and will likely continue amid a period of regulatory uncertainty. New York was one of the first jurisdictions to think seriously about crypto regulation, putting the so-called BitLicense into effect in 2015. Some firms, like Kraken, found the rules onerous and pulled out of the financial hub, but, for many, any amount of clarity was appreciated.
