New York’s Department of Financial Services (DFS), the state financial regulator, and the Wyoming Division of Banking signed a memorandum of understanding on Wednesday to coordinate oversight of companies offering virtual currency and digital asset services. Acting Superintendent Kaitlin Asrow and Wyoming Banking Commissioner Jeremiah Bishop announced the agreement, which allows each regulator to use the other’s supervisory expertise for firms operating in both jurisdictions. The memorandum covers licensing and chartering for companies already authorized in one state and those applying in both states simultaneously. It also provides for sharing analysis, subject matter reviews and historical examination data to streamline applications, while coordinating examination schedules and working toward joint examinations. The agencies will share supervisory reports, market-trend data and notifications about potential enforcement actions. The agreement links New York’s BitLicense, the nation’s oldest comprehensive virtual currency regime, with Wyoming’s crypto-focused chartering approach, including its recent advancement of a state stable token using Chainlink proof-of-reserve technology. Asrow said the cooperation would support responsible innovation and consumer protection, while Bishop said it demonstrated the effectiveness of state-level supervision.