Departing NY regulator calls for crypto passporting between US, UK

Adrienne Harris, head of New York’s top financial regulator, announced her resignation Monday after four years in the post, closing her tenure by calling for deeper cross-border alignment on crypto rules.

In a final interview with the Financial Times, Harris said she supported a potential passporting arrangement between the UK and the UK that would allow licensed crypto firms in one country to operate in the other without repeating the full approval process.

She argued such a framework could strengthen investor safeguards, cut regulatory costs, and promote smoother global market access.

Push for international coordination

Harris stressed that digital assets operate without borders, and regulators must adapt by building cooperative systems.

Her remarks follow joint initiatives by Washington and London to coordinate on “markets of the future,” though the two governments have taken different stances on national crypto reserves.

The U.K. Treasury rejected proposals this year to mirror U.S. efforts to stockpile Bitcoin, stating that it did not align with the country’s financial profile.

During Harris’s leadership, the New York Department of Financial Services reinforced its reputation as a strict but influential regulator.

The agency oversees some of the world’s largest banks, including Goldman Sachs and Barclays, along with major crypto players such as Coinbase and Circle.

Regulatory record in New York

Harris upheld New York’s signature BitLicense framework, advanced anti-money laundering requirements, and opened regulatory dialogues abroad, including the Transatlantic Regulatory Exchange with the Bank of England.

She has consistently argued that integrating traditional financial institutions into the crypto ecosystem is crucial for mitigating risks associated with fraud, cybercrime, and illicit finance.

Her departure marks the end of a pivotal period for U.S. crypto regulation. Kaitlin Asrow, currently an executive deputy at the department, will succeed her as superintendent.

Harris said she remains optimistic about digital asset oversight, emphasizing that effective regulation should protect consumers while leaving room for innovation.