New York State Department of Financial Services: Using new market monitoring tools to detect risks in the cryptocurrency market

ChainCatcher news, the New York State Department of Financial Services officially announced that the department has enhanced its ability to detect fraud and other illegal activities among entities engaged in virtual currency activities regulated by the state of New York through a new insider trading and market manipulation risk monitoring tool.

The new feature aims to detect potential insider trading, market manipulation, and activities related to virtual currency wallet addresses associated with entities and applicants regulated by the department that are exposed or potentially exposed. The New York State Department of Financial Services will continue to use all its regulatory tools to stay in sync with the industry, develop data-driven policy decisions, and actively respond to the virtual currency market. (Source link)