"New York State Department of Financial Services Superintendent Adrienne A. Harris today issued new guidance on the use of blockchain analytics tools for banking institutions contemplating or already conducting virtual currency-related activities. As banking institutions experience increasing interest in and exposure to virtual currency activities, blockchain analytics tools have the ability to enhance compliance programs and prevent illegal activities. Today's announcement builds upon previously released industry guidance to New York State-regulated virtual currency entities."
"From NY Department of Financial Services: September 17, 2025 New York State Department of Financial Services Superintendent Adrienne A. Harris today issued new guidance on the use of blockchain analytics tools for banking institutions contemplating or already conducting virtual currency-related activities. As banking institutions experience increasing interest in and exposure to virtual currency activities, blockchain analytics tools have the ability to enhance compliance programs and prevent illegal activities. Today's announcement builds upon previously released industry guidance to New York State-regulated virtual currency entities."
Guidance recommends use of blockchain analytics tools by banking institutions contemplating or conducting virtual currency activities. Blockchain analytics tools provide transaction tracing, risk scoring, and suspicious activity detection to enhance compliance programs and prevent illegal activities. The guidance builds upon prior industry guidance for New York State-regulated virtual currency entities and seeks to align bank compliance practices with evolving virtual asset risks. Suggested implementation includes integrating analytics into customer due diligence, transaction monitoring, suspicious activity reporting, and risk-based policies, with emphasis on adapting controls as virtual currency exposure increases.
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