New York is beefing up its cryptocurrency enforcement to ensure Russia cannot use digital currencies to get around sanctions implemented in response to the country’s invasion of Ukraine.
Gov. Kathy Hochul said Wednesday that the state would expedite the purchase of analytics software that she hopes will help the state monitor cryptocurrency transactions among the companies it licenses.
In the days following the sanctions against Russia, several major cryptocurrency exchanges have pledged to ensure their enforcement. But New York’s top banking and insurance regulator, the Department of Financial Services, wants new tools to make sure they keep to that commitment.
“We know that bad actors will try to
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