New York Regulator Hiring Blockchain Analyst to Thwart Crypto Offenses

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated:

October 7, 2024 23:59 EDT

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New York’s financial regulator is hiring a senior blockchain analytics analyst to tackle financial crimes, including money laundering, in the crypto industry.

The position can be based in New York or Albany, offering an $84,156 starting salary. Potential increases can reach up to $106,454, according to the job vacancy.

Roles based in the New York City metro area — including Suffolk, Nassau, Rockland and Westchester counties — also receive a $3,400 annual downstate adjustment.

Crypto Pro to Assess Illicit Risks and AML Compliance

Candidates should have at least one year of experience in the crypto industry, using blockchain analytics and Open-Source Intelligence tools. A solid understanding of the Bank Secrecy Act, anti-money laundering (AML) rules and related legal frameworks is also required.

The applicant will assess illicit activity risks using blockchain analytics and on-chain attribution tied to DFS-regulated virtual currency licensees. They will also monitor dashboards for irregularities indicating money laundering or sanctions breaches, requiring further investigation and reporting.

New York Comptroller Flags Gaps in BitLicense Oversight

In Jan. 2015, NYDFS created the virtual currency unit to enforce the BitLicense framework for businesses handling virtual currencies. The unit investigates violations such as fraud, unauthorized operations, poor cybersecurity and AML non-compliance.

Earlier this year, New York State Comptroller Thomas DiNapoli highlighted a potential oversight gap in how the state’s financial regulator manages virtual currency licenses. The office issued a report urging the department to improve its BitLicense program, citing concerns about its financial sustainability and cybersecurity measures.