NY Regulator Asks Banks to Adopt Blockchain Analytics

Reading Time: < 1 minute

New York‘s top financial regulator is instructing state-chartered banks to implement blockchain analytics tools to fight financial crime.

The New York State Department of Financial Services (NYDFS) issued the guidance Wednesday, citing a rise in digital asset adoption and the need for banks to adapt their compliance programs.

Superintendent Adrienne Harris stated that as banks move into crypto, they must onboard new tools to mitigate emerging risks like money laundering and sanctions evasion.