NY, Wyoming Regulators Team Up on Crypto Oversight
The New York State Department of Financial Services (DFS) and the Wyoming Division of Banking have signed a memorandum of understanding to coordinate crypto oversight. The agreement, which took effect on October 1, 2026, will enable the two regulators to exchange supervisory information about digital asset firms.
The memorandum sets up a framework for streamlining licensing reviews, coordinating examination schedules, and enforcing actions. Firms with a clean operating history of at least three years can expect expedited licensing decisions within a six-month timeframe.
The agreement also opens the door to potential joint examinations, where firms could face a more coordinated review process instead of separate teams showing up on different schedules.