New York and Wyoming Regulators Sign Agreement to Coordinate Oversight of Crypto Firms

Odaily News: The New York State Department of Financial Services and the Wyoming Division of Banking have signed a memorandum of understanding to coordinate licensing reviews, examinations, and potential enforcement actions for crypto companies operating across state lines.

Under the agreement, the two parties will share analytical findings, historical examination data, regulatory reports, and market trend data, coordinate examination schedules, and may conduct joint examinations of companies operating in both states.

Companies that have held a license or charter in one state for at least 3 years without enforcement action may receive expedited review when applying for approval in the other state, with the second regulator aiming to make a decision within 6 months. The two parties may also take joint, coordinated, or separate enforcement actions. (Cointelegraph)