Key Notes

NYDFS extends blockchain monitoring requirements from crypto companies to all New York state banks and foreign branches.

Banks must use tools like Chainalysis to screen wallets, verify fund sources, and detect money laundering or sanctions violations.

The guidance represents supervisory expectations rather than formal rules, giving banks flexibility in implementation approaches.

The New York State Department of Financial Services (NYDFS) has directed banking organizations under its supervision to implement blockchain analytics tools as part of their compliance frameworks, marking the regulator’s latest step to strengthen oversight of cryptocurrency activities.

Superintendent Adrienne A. Harris issued the guidance on September 17, extending requirements previously applied o

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