meta_id 3546035

On October 1, 2026, the New York State Department of Financial Services (DFS) and the Wyoming Division of Banking signed a memorandum of understanding (MOU) to coordinate oversight of virtual currency and digital asset activities across both jurisdictions. The MOU formalizes coordination between the two states, which DFS Acting Superintendent Kaitlin Asrow and Wyoming Banking Commissioner Jeremiah Bishop identified as leaders in digital asset regulation. The agreement enables regulators to share expertise and supervisory insights to strengthen oversight while facilitating responsible innovation. The MOU establishes protocols for coordinating licensing and chartering processes for entities already licensed in one jurisdiction or applying simultaneously in both. DFS and the Wyoming Division of Banking will share analysis, subject matter reviews, and historical examination data to streamline applications. The regulators will coordinate examination schedules and pursue joint examinations of entities operating in both states. The MOU also creates mechanisms for sharing supervisory reports, market trend data, and notifications regarding potential enforcement actions. DFS established the BitLicense framework in 2015, creating the nation's first comprehensive virtual currency regulatory regime. Entities regulated under this framework are subject to rigorous supervisory standards designed to protect consumers, safeguard financial markets, and ensure the safety and soundness of the financial system. The signed MOU is available on the DFS website.