In recent years, regulatory responsibility for cryptocurrency exchanges has increasingly shifted toward state agencies. New York, through its BitLicense framework and the New York State Department of Financial Services (NYDFS), continues to play a central role.
State-level enforcement actions, consent orders, and compliance oversight have become key mechanisms for accountability, particularly where federal enforcement is limited.
Consumer complaints submitted to state regulators help identify patterns and inform regulatory responses, even when individual disputes are resolved privately.
