NYDFS and Wyoming Coordinate Crypto Oversight through New Partnership
New York's Department of Financial Services (DFS) and Wyoming's Division of Banking have signed a memorandum of understanding to coordinate oversight of companies offering virtual currency and digital asset services.
The agreement, announced on Wednesday by Acting Superintendent Kaitlin Asrow and Wyoming Banking Commissioner Jeremiah Bishop, lays out coordination on licensing and chartering for firms operating across both jurisdictions.
The DFS described the deal as formalizing a relationship between two states that have each built significant experience overseeing digital asset activity. Asrow framed the deal as a consumer-protection measure, saying 'Interstate collaboration is essential for the virtual currency space.'
The memorandum ties together New York's supervisory standards with Wyoming's chartering momentum, pairing two approaches to regulation in the rapidly evolving industry.