Virtual Currency Business Activity is
|| the conduct of any one of the following types of activities involving New York or a New York Resident:
- (1) receiving Virtual Currency for Transmission or Transmitting Virtual Currency, except where the transaction is undertaken for non-financial purposes and does not involve the transfer of more than a nominal amount of Virtual Currency;
- (2) storing, holding, or maintaining custody or control of Virtual Currency on behalf of others;
- (3) buying and selling Virtual Currency as a customer business;
- (4) performing Exchange Services as a customer business; or
- (5) controlling, administering, or issuing a Virtual Currency.
The development and dissemination of software in and of itself does not constitute Virtual Currency Business Activity.
- ↑ Virtual Currencies, at 6.