Is Schwab Crypto Available in New York or Louisiana?

No. Schwab Crypto isn’t available in New York or Louisiana. Schwab says its crypto accounts “are available in all U.S. states except for New York and Louisiana,” and “are not available in any U.S. territories or in any international jurisdictions.” If you live in either state, or in Puerto Rico or another territory, you can’t open a Schwab Crypto account, even if you already have a Schwab brokerage account.

Here’s exactly what Schwab’s rule covers, what happens if you move, why those two states stand out, and what you can do instead. All of it is checked against Schwab’s pages as of October 21, 2026.

Where Schwab Crypto is available

Schwab’s full disclosure reads: “Schwab Crypto™ accounts (i) are available in all U.S. states except for New York and Louisiana, and (ii) are not available in any U.S. territories or in any international jurisdictions. Accounts may be restricted or closed if you move to an unsupported jurisdiction. Not all clients will qualify.”

The same wording appeared in Schwab’s April 16, 2026, launch announcement, so the two states have been excluded since the start.

Living in a supported state is required but not enough. Schwab also requires “an eligible Schwab brokerage account,” which it describes as individual and joint brokerage accounts, and every application is reviewed.

What happens if you move to New York or Louisiana

Schwab’s disclosure is short: accounts “may be restricted or closed if you move to an unsupported jurisdiction.” It doesn’t publish a timeline or say which actions stop first. If a move is coming up:

1. Contact Schwab before you move. Use the chat in the Schwab Mobile app or on Schwab.com and ask what will happen to your crypto account.
2. Decide what to do with your coins. You can sell bitcoin or ether for cash, which costs 0.75% of the sale, and move the cash to your linked brokerage account. Or, if your account has crypto transfers enabled, you can send the coins to a wallet you control.
3. Keep your address current. Update your address with Schwab when you move. Don’t keep an old address on file to avoid a restriction.

Sending coins out is limited to 3 withdrawals per 24 hours and $5,000 per transfer, and a new wallet address takes at least 24 hours to activate. If you hold more than a few thousand dollars in crypto, plan ahead.

Why New York and Louisiana?

Schwab doesn’t say. What both states have in common is their own licensing system for crypto companies, on top of the federal rules:

• New York. The Department of Financial Services issued its virtual currency regulation, 23 NYCRR Part 200, in 2015. Companies doing virtual currency business with New Yorkers operate under what DFS calls “a BitLicense or Trust Charter.”
• Louisiana. The state’s Office of Financial Institutions says its Virtual Currency Businesses Act “requires the licensure of entities that engage in virtual currency business activities in the State of Louisiana.” Since July 1, 2023, companies can no longer do that business in Louisiana without a license.

Other exchanges do serve these states, so state rules aren’t an outright ban. They’re simply one more approval a company needs. We don’t know where Schwab stands with either regulator, and we won’t guess.

Options if you live in New York or Louisiana

Crypto products at Schwab outside Schwab Crypto

Schwab offers several ways into crypto, and Schwab Crypto is only one of them. Schwab lists five: “direct ownership, stocks, exchange-traded products, options, and futures.” The other four are traded through a brokerage or futures account, where you own shares or contracts rather than coins.

The New York and Louisiana exclusion is written for the Schwab Crypto account. Schwab’s disclosures for its other products don’t repeat it, but eligibility rules can differ by product, so ask Schwab which of them you can use.

Other platforms that serve New York or Louisiana

These are the platforms we cover and where each says it’s available, according to its own help center as of October 2, 2026:

State lists change. Check the platform’s own page before you sign up.

If Schwab says Schwab Crypto isn’t available to you

If you live in a supported state but can’t apply, the reason is usually not your state. Schwab says “Applications are subject to review and approval. Not all clients will qualify.” Check that:

• your linked brokerage account is an individual or joint account, the types Schwab names as eligible;
• your home address on file is in a supported state;
• your application isn’t still under review, which can take up to two business days.

If you’re stuck, contact Schwab through chat on Schwab.com or in the Schwab Mobile app. Schwab says it can help if you’re “having trouble completing the crypto account application.”

Related Schwab Crypto guides

• Schwab Crypto explained: fees, coins, states, and how it works
• Schwab Crypto fees: what the 0.75% charge really costs
• Can you transfer bitcoin into Schwab Crypto?