New York and Wyoming regulators sign pact to coordinate crypto oversight

Two of the most influential state crypto regulators in the US have agreed to start comparing notes. On October 1, 2026, the New York State Department of Financial Services (DFS) and the Wyoming Division of Banking signed a memorandum of understanding covering firms engaged in virtual currency and digital asset activity. The document was signed by DFS Acting Superintendent Kaitlin Asrow and Wyoming Banking Commissioner Jeremiah Bishop. It runs seven pages, which is fairly brief by regulatory standards. The memorandum gives the two regulators a formal channel to exchange supervisory information about digital asset firms. It also sets up a framework for streamlining licensing reviews and coordinating examination schedules and enforcement actions. Firms with a clean operating history of at least three years can expect expedited licensing decisions. The agreement aims to deliver those decisions within a six-month timeframe. The memorandum also opens the door to potential joint examinations. Instead of two separate teams of examiners showing up on different schedules, firms could face a more coordinated review process. There are firm limits on this cooperation. The memorandum does not al...