New York and Wyoming financial regulators have signed an agreement to coordinate oversight of crypto companies operating across both states, including licensing, examinations and potential enforcement actions.
The Memorandum of Understanding (MOU), announced Thursday by the New York State Department of Financial Services (NYDFS) and the Wyoming Division of Banking, applies to firms already regulated in either state and those seeking approval in both jurisdictions.
Under the agreement, the regulators will share analysis and historical examination data to streamline applications, coordinate examination schedules and work toward joint examinations of companies operating in both states.
The agreement also provides an expedited pathway for certain firms already regulated in one state that seek approval in the other. Companies operating under an existing license or charter for at least three years and not subject to enforcement action…
