NY and WY Sign Crypto Oversight Pact, Streamlining Approval Process

New York and Wyoming have signed an agreement to coordinate oversight of digital asset companies operating in both states. The pact enables joint supervision, data sharing, and streamlined application reviews for firms with existing licenses or charters.

Under the terms of the memorandum of understanding, regulators will share analysis and historical examination data to facilitate expedited review for companies already regulated in one state.

Firms that have operated under an existing license or charter for at least three years without enforcement actions may qualify for a decision within six months from the second regulator.