The New York Department of Financial Services (NYDFS) has announced a partnership with the Bank of England (BOE) to launch an international regulatory initiative aimed at harmonizing crypto regulations, according to a Jan. 13 statement.
The program, known as the Transatlantic Regulatory Exchange (TRE), is designed to promote collaboration, share expertise, and align regulatory approaches for digital assets and emerging payment systems.
The TRE involves a staff exchange program that will begin in February. This program enables both organizations to leverage the expertise of their senior regulatory staff.
The program specifically targets professionals experienced in digital payments, distributed ledger technology, and digital assets, fostering cross-border knowledge sharing to enhance regulatory capabilities.
Participants will engage in this exchange for at least six months, with an option to extend up to a year, contingent on mutual agreement.
Upon completing their tenure, the appointees will return to their respective institutions to implement their newfound insights and enhance…
