New York and Wyoming Join Forces on Crypto Regulation

New York and Wyoming have agreed to coordinate their oversight of entities engaged in virtual currency and digital asset activities, according to a recent press release. The two states signed a memorandum of understanding (MOU) by the New York State Department of Financial Services and the Wyoming Division of Banking.

The agreement will enable regulators to draw on each other's expertise and supervisory insights, formalize coordination and strengthen relationships between the two states.

The MOU includes licensing and chartering provisions that will streamline applications, coordination of exam schedules, and joint examinations of entities operating in both states. It also includes protocols for sharing supervisory reports, market trend data, and notifications regarding potential enforcement actions.