New York State Department of Financial Services and the Wyoming Division of Banking signed an October 1, 2026, memorandum of understanding to coordinate oversight of digital asset and virtual currency businesses operating in or seeking approval in both states. Firms with at least three years of regulated operations, no active enforcement action and sufficiently similar proposed activities can qualify for an expedited review, with the reviewing regulator endeavoring to decide within six months after an application or receipt of requested examination records, whichever is later. The arrangement also provides for coordinated assessments of simultaneous applications, joint examinations where practical, market-data exchanges and cooperation on investigations and enforcement. It preserves each state's independent licensing and chartering authority, including New York's BitLicense system and Wyoming's digital-asset banking framework. The agreement arrives as regulated crypto businesses increasingly seek access to conventional financial infrastructure, including Wyoming-chartered Kraken Financial's limited-purpose Federal Reserve master account.