BitLicense

NYDFS

2026-10-02 01:41:35

New York and Wyoming Sign Crypto Oversight MOU for Shared Reviews and Faster Cross-State Approvals

New York’s Department of Financial Services and the Wyoming Division of Banking have signed a memorandum of understanding to coordinate crypto supervision across state lines. The arrangement covers license review sharing, examination coordination, and information exchange tied to enforcement actions. It applies both to firms already authorized in either state and to new companies seeking approval in both jurisdictions. The agreement also creates a fast-track process. A company that has been licensed or chartered in one of the two states for more than three years and has not faced enforcement action can receive an accelerated review when applying in the other state. Under the deal, the second state commits to making a decision within six months, compared with approval timelines that the report said could otherwise stretch to one or two years. The move links two very different state-level approaches to crypto regulation: New York’s stricter BitLicense framework and Wyoming’s more crypto-friendly charter regime, including its Special Purpose Depository Institution structure. The report said the agreement could become a model for wider interstate coordination, even as federal legislation such as the CLARITY Act remains stalled.

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NYDFS

2026-10-01 16:20:42

NYDFS and Wyoming banking regulator sign MOU to coordinate crypto oversight

The New York State Department of Financial Services and the Wyoming Division of Banking have signed a memorandum of understanding to coordinate supervision of crypto companies operating across both states. The arrangement covers licensing reviews, examinations, and possible enforcement matters. It applies both to firms already regulated in either jurisdiction and to companies seeking approval in New York and Wyoming at the same time. Under the agreement, the two regulators will share analytical findings and past examination data to streamline application reviews, align examination schedules, and support joint examinations of cross-state businesses. The MOU also creates an expedited path for firms that have been regulated in one of the two states for at least three years under an existing license or charter and have not been subject to enforcement action, with the second regulator aiming to reach a decision within six months. The deal also sets up information-sharing on supervisory reports, market trend data, investigation updates, and notices tied to possible enforcement action, while allowing the agencies to pursue joint, coordinated, or separate enforcement steps.

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Andrew Cuomo

2026-09-30 03:18:55

Andrew Cuomo says current U.S. crypto rules could be overturned if Democrats win Congress

Andrew Cuomo, a member of the OKX board and former governor of New York, said current U.S. crypto oversight rests largely on agency rulemaking rather than legislation passed by Congress. In an interview with Bloomberg cited by Techub News, Cuomo said that if Democrats win control of Congress in the midterm elections, those rules could be vulnerable because a new Congress would be able to challenge them. Cuomo also pointed to the fate of the CLARITY Act, saying election-year politics led to the bill being rejected in the Senate by a 49-50 vote, short of the 60 votes needed to move it forward. He said he hopes the measure can still pass during the lame-duck session after the election. Failing that, he wants it submitted for consideration before Jan. 1. He added that Democrats are not inherently opposed to cryptocurrency and noted that he oversaw the launch of New York’s BitLicense in 2015. At the same time, Cuomo criticized the crypto industry for failing to organize tens of millions of American users to support the bill.

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Mastercard

2026-08-21 00:35:00

Mastercard’s stablecoin, agent commerce and AI thesis comes into focus with BVNK deal

Mastercard used its July 30 second-quarter earnings call and a same-day Motley Fool podcast appearance by CEO Michael Miebach to lay out a consistent view across three hot topics in fintech and crypto: stablecoins, agentic commerce and AI. His argument was not that every payment should stay on card rails. It was that settlement may move across several rails, while trust, security and interoperability remain the layer Mastercard intends to own. Miebach said stablecoins already have clear utility in some B2B and P2P flows, especially where correspondent banking is expensive and opaque, but argued there is "no problem to solve" for everyday pay-to-merchant spending. In agentic commerce, he drew a line between AI buying on behalf of people or businesses, where Mastercard believes cards and existing protections still fit, and machine-to-machine transactions, where on-chain permissioning and off-chain settlement may require new infrastructure. That framework helps explain Mastercard’s acquisition of BVNK, which closed on August 3 for $1.8 billion, five months earlier than originally planned. With BVNK bringing annualized stablecoin volume of about $30 billion, more than 25 licenses across 130 markets, MiCA authorization and SEPA euro connectivity, Mastercard is adding a working stablecoin settlement layer to support sending, receiving, storing and converting assets.

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Circle

2026-07-31 15:32:02

Circle Wins New York Trust Charter as USDC Issuer Adds Another Regulatory Approval

Circle, the issuer of the USDC stablecoin, has secured a limited purpose trust charter from the New York Department of Financial Services, adding a fresh state-level approval as it expands its regulated footprint. The company said it will operate under the new charter as Circle New York Trust, building on the BitLicense it obtained in 2015. CEO Jeremy Allaire described the approval as a longstanding goal and a key milestone for the firm, saying it reflects more than a decade of regulatory commitment and places USDC within a well-established framework. The charter puts Circle New York Trust under NYDFS supervision, though the entity will not be able to take customer deposits or make loans like a traditional bank. Instead, it can offer services including digital asset custody and fiduciary functions under New York banking law. After the announcement, Circle shares climbed 8.4% to about $68.40, according to Yahoo Finance. The approval comes after other recent steps by the company, including OCC approval earlier this month for a national trust bank application and Monday’s acquisition of IBM’s blockchain patent portfolio, which added nearly 1,000 patents tied to blockchain, financial services, and enterprise software.

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Mastercard

2026-07-24 09:00:16

Mastercard Wins New York BitLicense as It Expands Stablecoin Settlement Plans

Mastercard has received a New York BitLicense, clearing the way to expand digital asset settlement services tied to stablecoins and tokenized deposits in a regulated market.

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eToro

2026-07-23 11:10:15

eToro Starts Crypto Trading in New York More Than Three Years After BitLicense Approval

eToro has launched crypto trading in New York more than three years after receiving BitLicense approval, starting with about 20 tokens under the state’s restrictive framework.

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OKX

2026-07-21 15:46:59

OKX adds Andrew Cuomo to its board as its long-running BitLicense gap comes back into focus

OKX has appointed former New York governor Andrew Cuomo to its board, putting a central figure behind the 2014 creation of the BitLicense inside a company that still does not appear on the New York Department of Financial Services register for that license. Protos framed the move as a notable development for an exchange that has spent years operating without the New York approval that several rivals, including Coinbase, Gemini, Mastercard, and MoonPay, have secured. The report also revisited OKX’s past compliance issues in the US, including more than $1 trillion in transactions by US customers between 2018 and early 2024 despite a policy that barred US persons from using the platform, and an employee message in 2023 telling an American user to enter a random country. In parallel, OKX has already brought on former NYDFS superintendent Linda Lacewell and in June 2026 entered a 50/50 joint venture with Intercontinental Exchange that expects to run a US broker-dealer and futures firm after obtaining “certain regulatory approvals.”

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