Engineered for compliance
NYC Node aims to facilitate compliant, direct connections to blockchains for highly regulated institutions.
NYC Node is actively working with Ethereum Core engineers to implement new features at the lowest level of Ethereum archival nodes that enable compliance with money transmitter regulations related to New York’s BitLicense.
Use Case: Financial market reports
Financial institutions operating in the financial capital of the world strive to provide their clients with comprehensive financial market reports. However, reading and retrieving market data directly from blockchain nodes for these reports can be prohibitively expensive due to compliance costs. Additionally, the overhead of hiring personnel to report to regulatory government agencies is time-consuming. As a result, many institutions opt to hire third-party companies to supply this blockchain-based market data.
The NYC Node project offers financial institutions detailed guidance on accessing blockchain-based market data for their reports without relying on third-party services. Should a turnkey solution be required, CUNY students trained in extracting blockchain data and compiling market reports are available for hire.
Responsive to Regulatory Feedback
We welcome industry professionals to connect to provide further support related to regulatory compliance. We are building in the open, and are activly looking to further enguage with regulators.
Contact Us
Compliance@NYCnode.org