At the Chainalysis Links 2023 conference, the WSJ reported that Superintendent Harris stated that the crypto industry must still mature in compliance:
“Speaking more broadly about the crypto industry, Ms. Harris said the sector still lacks maturity in its compliance programs even as it has grown in prominence. During many of the NYDFS’s examinations and enforcement actions, her team would find that many companies’ compliance programs consisted of ‘reams of paper’ and Excel spreadsheets, among other things, she said. ‘There is still a lack of maturity around Bank Secrecy Act-anti-money-laundering [compliance] and cybersecurity,’ Ms. Harris said. ‘We’re eager for the day when those systems mature and scale as the business side does.’ She added that part of having a robust compliance program at crypto firms is acquiring the right technology, such as blockchain analytics tools, and hiring trained professionals to use them.”