The NY BitLicense legislation introduced in 2014 prevents any individual or business to engage in Virtual Currency Business Activity without a BitLicense. Virtual Currency Business Activity includes:
receiving or sending Virtual Currency
storing, holding, or maintaining custody or control of Virtual Currency on behalf of others
buying and selling Virtual Currency as a customer business
performing exchange services as a customer business, or
controlling, administering, or issuing a Virtual Currency
For more information, see the New York State Department of Financial Services for Virtual Currency Businesses here: https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses