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New York Financial Institutions Encouraged to Adopt Blockchain Analytics for Risk Management
New York Financial Institutions Encouraged to Adopt Blockchain Analytics for Risk Management
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BTCCSquare news:
New York's financial regulator is pushing banks to integrate blockchain analytics into their compliance frameworks. The move aims to address risks tied to VIRTUAL currency transactions as digital assets gain mainstream traction.
Adrienne Harris, Superintendent of Financial Services, issued guidance on September 17, 2025 urging banking organizations to leverage blockchain tracking tools. These systems can help mitigate fraud and money laundering risks inherent in crypto transactions.
The directive builds upon existing Virtual Currency Regulatory Authority advisories. It reflects growing institutional recognition of blockchain's potential to enhance transparency in financial systems through decentralized ledger technology.
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