US-UK Crypto Passporting Proposed as Regulatory Talks Deepen

- Adrienne A. Harris, outgoing NYDFS Superintendent, calls for a cross-border “crypto passporting” system to streamline operations and bolster investor protection. - The proposal coincides with the launch of a joint U.S.-U.K. task force on cryptocurrency regulation. On September 30, 2025, CryptoSlate reported that Adrienne A. Harris, the outgoing Superintendent of the New York State Department of Financial Services (NYDFS), proposed a “crypto passporting” framework during her final remarks in office. The framework aims to enhance cross-border interoperability between the United States and the United Kingdom. Under this system, licensed crypto firms in one jurisdiction could operate in the other without a separate authorization process, which would potentially reduce compliance costs while strengthening investor protections. Harris emphasized that a collaborative framework is essential to address the challenges of a borderless cryptocurrency market and to foster regulatory alignment on an international scale. The proposal aligns with broader initiatives to unify regulatory approaches, as the United States and the United Kingdom recently unveiled the “Transatlantic Taskforce for Markets of the Future.” This joint effort, spearheaded by finance ministry officials in both nations, will deliver actionable recommendations within 180 days, focusing on market stability, consumer safety, and global compliance standards. During Harris's tenure, the NYDFS became a leader in digital asset regulation through its BitLicense framework, granting licenses to major cryptocurrency companies. On October 18, 2025, Kaitlin Asrow will step in as acting superintendent. She currently serves as the department’s Executive Deputy Superintendent of Research and Innovation. Harris reiterated that her resignation was planned and unrelated to external pressures.