Regulators at the state Department of Financial Services unveiled a new package of measures on Tuesday meant to stem illegal activity and fraud in virtual currency.
The measures include provisions meant to safeguard against market manipulation and insider trading.
“This is a significant step in our supervision of the virtual currency industry as it continues to quickly transform and mature,” Financial Services Superintendent Adrienne Harris said. “These tools will help us combat financial crime and fraud, hold regulated entities accountable, and further strengthen our national leadership in virtual currency supervision.”
The regulations come as the state over the last several years has started to lay down more rules for virtual currency trading and cryptocurrency.
The state previously announced guidance for the use of blockchain analytics and criteria for so-called dollar-backed "stablecoins."