New York and Wyoming financial regulators have signed an agreement to coordinate oversight of crypto companies.

They will exchange technical data and carry out joint inspections of companies operating in both states. The memorandum also introduces protocols for sharing financial data between regulators and joint enforcement measures. To that end, they will exchange information during investigations.

The new measures apply to firms already regulated in both states and those seeking to obtain licenses. Companies regulated in one state for at least three years may also qualify for expedited licensing in the other.