NYDFS Ups The Heat On Market Manipulation And Insider Trading
- The NYDFS had enhanced its ability to detect illegal activities like fraud and insider trading.
- Superintendent Adrienne Harris recently unveiled new market manipulation risk monitoring tools.
- These measures are meant to keep New York State-regulated entities in check.
The New York Department of Financial Services (NYDFS) has doubled down on illegal activities in the virtual currency industry in the State of New York. The department recently announced that it had enhanced its ability to detect illegal activities like fraud and front running through new insider trading and market manipulation risk monitoring tools.
According to a press release by the department, these enhancements will aid in detecting insider trading and market manipulation associated with the virtual currency firms regulated by the NYDFS. Furthermore, the new measure will help to detect applicants’ exposure to listed virtual currency wallet addresses.
Speaking on the new enhancement, NYDFS Superintendent Adrienne A. Harris said, “This is a significant step in our supervision of the virtual currency industry as it continues to quickly transform and mature. These tools will help us comb…
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