The New York State Department of Financial Services and the Wyoming Division of Banking have signed a memorandum of understanding to coordinate licensing, supervision and enforcement involving virtual currency and digital asset entities operating in both states. The agreement formalizes information sharing and allows each regulator to draw on the other’s supervisory expertise. The regulators will coordinate reviews of entities licensed or chartered in one jurisdiction and those applying in both states, sharing analysis, subject matter reviews and historical examination data to streamline applications. They will also align examination schedules, work toward joint examinations and exchange supervisory reports, market trend data and notifications of potential enforcement actions.
New York State Department of Financial Services and Wyoming Division of Banking establish coordinated digital asset oversight
The New York State Department of Financial Services and the Wyoming Division of Banking have agreed to coordinate oversight of digital asset entities operating in both states. The arrangement covers licensing reviews, examination schedules, potential joint examinations and the sharing of supervisory and enforcement information.