Fidelity Crypto: US Fees, 50-State Legality, NMLS & Orderbook Audit
- FinCEN MSB & NMLS ID
- Registered MSB · NMLS #2009215 (43 MTLs)
- NYDFS BitLicense Status
- Granted NYDFS Limited Purpose Trust Company Charter in
- Pro Maker / Taker Fee
- No Separate CLOB (1.00%)
- Simple Buy Fee + Spread
- 1.00% Fee + ~100 bps Spread
- ACH Deposit & Hold Lock
- $0.00 Deposit · 3–7 Business Day Withdrawal Hold
- 2026 IRS Tax Reporting
- 1099-DA, 1099-B, Gain/Loss Statement (FIFO / Specific ID)
▣ VERIFIED 1200×675 QUANT DOSSIER SNAPSHOT CARD[EXPAND TERMINAL PREVIEW ▾]
Fidelity Crypto Execution Cost Curve: $100 to $50,000 (Simple vs Pro Orderbook vs US Median)
Verified Fee + Spread Benchmark1. US Regulatory Passport & Custodial Protection
No BitLicense| Benchmark Parameter / Attribute | Verified 2026 US Provision & Specification |
|---|---|
| Legal Entity | Fidelity Digital Asset Services, LLC |
| US Headquarters | Boston, MA |
| FinCEN MSB Status | State-chartered Trust Company & FinCEN MSB |
| NMLS Consumer Access | NMLS #2009215 ↗ (43 State MTLs) |
| New York NYDFS | Granted NYDFS Limited Purpose Trust Company Charter in November 2019 (Fidelity Digital Asset Services, LLC). |
| FDIC / Cash Sweep | Cryptocurrency in Fidelity Crypto is NOT FDIC or SIPC insured. However, the funding Fidelity brokerage account carries SIPC protection (up to $500,000 for securities including FBTC/FETH ETFs, $250,000 cash) and FDIC cash sweep. |
SEC, CFTC & State Regulatory Enforcement History
No major adverse SEC or CFTC civil enforcement penalties recorded in our current US regulatory audit docket.
2. Simple App vs Pro Orderbook Cost Calculator
Simulate one-way execution cost + spread across trade sizes and funding rails.
| Fee Metric | Schedule | Scenario Benchmark | Round-Trip USD |
|---|---|---|---|
| ACH Deposit / Withdrawal | $0.00 / $0.00 | $100 Buy + Sell (Retail) | $2.00 |
| Fedwire Deposit / Withdrawal | $0.00 / $0.00 | $1,000 Buy + Sell (Retail) | $20.00 |
| Debit Card / Apple Pay | 0.00% | $1,000 Buy + Sell (Pro Tier) | $20.00 |
| $100/mo Recurring DCA (1 yr) | $24.00/yr | $10,000 Buy + Sell | $200.00 |
3. 51-Jurisdiction US Availability & Staking Restrictions Grid
Available in 42+ US states + DC (including NY and TX); expanding state-by-state trust coverage.
4. CFPB Complaint Profile & Proof-of-Reserves
CFPB Virtual Currency Complaints: No standalone company-level complaint cluster in the top 25 CFPB virtual currency entities (or routed via partner bank/custodian).
Custodial Reserve Verification: Assets held via regulated US qualified custodians or self-custody architecture; see Live PoR Monitor.
Compare with category peers: Robinhood Crypto · IBKR Crypto · Webull Pay · Cash App · Open Full Fidelity Crypto Legit & Safety Audit →
5. IRS Form 1099-DA Tax Reporting & US Product Capabilities
| Benchmark Parameter / Attribute | Verified 2026 US Provision & Specification |
|---|---|
| IRS Tax Forms Issued | 1099-DA, 1099-B, Gain/Loss Statement |
| Default Cost Basis Method | FIFO / Specific ID |
| Tax API Integrations | TurboTax, CoinTracker, Koinly |
| Self-Custody Withdrawal | Supported · Lightning: No |
| US Staking & Yield | Staking not offered |
| CFTC Regulated Derivatives |
Who Should Choose vs. Who Should Avoid Fidelity Crypto (2026 Decision Matrix)
2026 US Execution & Compliance Matrix| US Trader / Investor Profile | Who Should Choose (Optimal Use Case) | Who Should Avoid (Cost or Regulatory Friction) | Recommended Execution Protocol |
|---|---|---|---|
| Active Spot USD Traders ($1k–$50k) | Choose Users seeking simplified broker execution across 3 supported assets. | Avoid Traders clicking the default Retail Simple Buy button (1.00% + 100 bps = $20.00 per $1k). | Always toggle to a Pro Central Limit Order Book (Kraken Pro, Coinbase Advanced, or Gemini ActiveTrader) before executing. |
| New York & Restricted State Residents | Choose NY residents (Supported under Granted NYDFS Limited Purpose Trust Company Charter in November 2019 (Fidelity Digital Asset Services, LLC).) and residents in 43/51 licensed states. | Avoid Residents of restricted jurisdictions (HI, LA, ME, MN, NV, OR, VT, WV). | Use NYDFS BitLicense holders (Coinbase, Gemini, Robinhood, Bitstamp US, Cash App) if domiciled in New York. |
| Automated Recurring DCA Accumulators | Choose Long-term accumulators aware of the $24.00/year cost on $100/month recurring buys. | Avoid Buyers funding recurring purchases via Visa/Mastercard debit cards (0.00% card surcharge). | Fund via $0.00 Plaid ACH or use zero-fee recurring BTC DCA on River or Strike. |
| Self-Custody Hardware Wallet Users | Choose Investors who wait for the 3–7 business day ACH hold to clear before withdrawing (Supported) to Coldcard, Trezor, or Ledger. | Avoid Users needing same-day off-platform crypto withdrawal who deposit via standard ACH instead of same-day Fedwire. | Use incoming Fedwire ($0.00) for zero-hold same-day settlement and immediate self-custody withdrawal. |
Microstructure & Fee Architecture on Fidelity Crypto: Operating in the United States as Fidelity Digital Asset Services, LLC (Boston, MA), Fidelity Crypto structures its retail and institutional pricing across distinct execution tiers. On the retail instant-buy interface, orders incur a 1.00% nominal fee plus an embedded principal spread averaging 100 basis points—resulting in a round-trip cost of $2.00 on $100, $20.00 on $1,000, and $200.00 on $10,000. By contrast, routing orders through Flat 1.00% spread built into execution price brings round-trip $1,000 execution down to $20.00.
US Banking Rails, Nacha ACH Holds & Fedwire Finality: Fidelity Crypto charges $0.00 for Automated Clearing House (ACH) deposits and $0.00 for ACH withdrawals. While Plaid OAuth linking grants immediate trading credit, Nacha return risk rules (codes R01/R10) require a 3 to 7 business day clearing hold before purchased digital assets can be withdrawn on-chain. Institutional or high-net-worth traders requiring same-day settlement without withdrawal locks should utilize Fedwire ($0.00 deposit / $0.00 withdrawal).
50-State + DC Licensing & Custody Protection: Fidelity Crypto maintains 43 state Money Transmitter Licenses (NMLS #2009215) and serves 43 of 51 US jurisdictions. Regarding fiat protection: Cryptocurrency in Fidelity Crypto is NOT FDIC or SIPC insured. However, the funding Fidelity brokerage account carries SIPC protection (up to $500,000 for securities including FBTC/FETH ETFs, $250,000 cash) and FDIC cash sweep. Spot cryptocurrency balances are not covered by FDIC or SIPC insurance and rely on UCC Article 8 custodial segregation or direct self-custody withdrawal.
2026 IRS Form 1099-DA & Rev. Proc. 2024-28 Compliance: Under Treasury Decision 10000 (IRC §6045), Fidelity Crypto issues 1099-DA, 1099-B, Gain/Loss Statement for covered US digital asset dispositions using FIFO / Specific ID accounting. US taxpayers must reconcile wallet-by-wallet cost basis lots under IRS Revenue Procedure 2024-28 using supported tax APIs (TurboTax, CoinTracker, Koinly).
Frequently Asked Questions (US Regulatory & Execution Reference)
VERIFIED Q&A PROTOCOLIs Fidelity Crypto legal in the United States and available in New York?
Fidelity Crypto (Fidelity Digital Asset Services, LLC) is available in 43 out of 51 US jurisdictions. In New York, it is legally available under Granted NYDFS Limited Purpose Trust Company Charter in November 2019 (Fidelity Digital Asset Services, LLC)..
How much does it cost to buy $1,000 of Bitcoin on Fidelity Crypto?
On Fidelity Crypto, a $1,000 round-trip trade costs approximately $20.00 using the standard retail interface (1.00% fee + ~100 bps spread) vs $20.00 on its Flat 1.00% spread built into execution price.
Does Fidelity Crypto issue IRS Form 1099-DA for 2026 crypto taxes?
Yes, Fidelity Crypto tax reporting outputs 1099-DA, 1099-B, Gain/Loss Statement using FIFO / Specific ID and integrates with TurboTax, CoinTracker, Koinly.
How does Fidelity Crypto US Review impact 2026 IRS Form 1099-DA and Rev. Proc. 2024-28 tax reporting?
For the 2026 tax year, regulated US digital asset brokers report gross proceeds and covered cost basis on IRS Form 1099-DA under IRC Section 6045. Taxpayers interacting with Fidelity Crypto US Review must maintain wallet-by-wallet (or account-by-account) cost-basis lot allocation under IRS Revenue Procedure 2024-28 and reconcile dispositions on Form 8949 and Schedule D.
What is the difference between Retail Instant Buy and Pro Orderbook execution for Fidelity Crypto US Review?
Across audited US platforms relevant to Fidelity Crypto US Review, standard retail 'Simple' or 'Instant Buy' widgets embed a 100 to 200 bps principal spread on top of a 0.99%–1.49% convenience fee (~$18–$29 per $1,000). Routing the exact same USD deposit through a Central Limit Order Book (CLOB) such as Kraken Pro, Coinbase Advanced, Gemini ActiveTrader, or Bitstamp US reduces total execution cost to 20–60 bps ($2.00–$6.00 per $1,000).
FinCEN / NMLS / Form 1099-DA Execution Checklist
Toggle each statutory & orderbook execution check before routing USD via ACH or Fedwire:
State MTL, BitLicense & Fee Schedule Alert Wire
Receive deterministic alerts when a US exchange changes Maker/Taker fees, NMLS state coverage, or 1099-DA reporting: