The New York Department of Financial Services (NYDFS) has announced the Transatlantic Regulatory Exchange (TRE) program, allowing exchanges of senior staff in digital assets with the Bank of England. This initiative, starting in February, aims to enhance regulatory knowledge on emerging payments and digital assets, with participants expected to return to New York equipped with insights on financial services regulation. Adrienne Harris, the NYDFS Superintendent, emphasized the importance of this program for regulatory harmonization. The NYDFS oversees cryptocurrency regulation in New York, having introduced the BitLicense in 2015. While the Bank of England faces challenges in managing digital asset regulations and is exploring central bank digital currency, the NYDFS encourages communication between US crypto firms and regulators as they navigate the evolving landscape.

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