Adrienne Harris, head of the best financial regulator of New York, announced her resignation on Monday after four years in the post, so that she was concluded her term of office by calling for deeper cross-border alignment on crypto rules.
In a final interview with the Financial Times, Harris said that she supported a potential passport arrangement between the UK and the UK with which licensed crypto companies in one country to the other can operate without repeating the full approval process.
She claimed that such a framework could strengthen the guarantees of investors, lower the regulation costs and promote access to the global market a liquid.
Push for international coordination
Harris emphasized that digital assets without borders must adapt and supervisors must adapt by building cooperation systems.
Her comments follow joint initiatives from Washington and London to coordinate on ‘Markets of the Future’, although the two governments have taken different views on National Crypto reserves.
This year, the British treasury rejected proposals to save Bitcoin, and stated that it was not in accordance with the financial profile of the country.
During the leadership of Harris, the New York Department of Financial Services strengthened its reputation as a strict but influential regulator.
The agency supervises some of the world’s largest banks, including Goldman Sachs and Barclays, together with major crypto players such as Coinbase and Circle.
Regulating record in New York
Harris maintained the characteristic Bitlicense framework of New York, 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 in the crypto ecosystem is crucial for reducing risks related to fraud, cyber crime and illegal finances.
Her departure marks the end of a crucial period for the American crypto regulation. Kaitlin Asrow, currently an executive deputy in the department, will follow her as a superintendent.
Harris said that she remains optimistic about the supervision of digital assets, and emphasizes that effective regulations should protect consumers and at the same time have to leave room for innovation.