Adrienne Harris will move as a superintendent of the New York Financial Services Department (NYDFS), the department announced on Monday.
Harris’ departure comes after four years at the head of the NYDFS, the state agency that regulates banks from Wall Street, global insurers and cryptographic companies based in New York.
Harris will be replaced by Kaitlin Asrow, who becomes the acting superintendent of the DFS from October 18. New York Governor Kathy Hochul announced the transition.
ASROW has spent the last four years supervising the licenses and the supervision of cryptographic companies at the Superintendent Executive Member of the Research and Innovation Division at the regulator where it would have helped build one of the largest digital asset regulation teams.
The department supervises giants like Jpmorgan Chase, Barclays and Deutsche Bank, while establishing rules for digital asset suppliers, including Coinbase, Circle and Paxos under the “Bitlidense” diet of New York.
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New York’s role in cryptographic legislation
Under Harris, the Department played a central role in the development of the American Stablecoin policy. She said in May that she was “hopeful” that Congress would possibly adopt legislation, which occurred in July.
She noted that New York officials had examined almost all the federal proposals of digital assets in the past three years, also reflecting the influence of the NYDFS on cryptography rules.
Speaking during the Ripple’s Swell event in Miami in 2024, Harris warned the industry to never surprise regulators. “You should never surprise your regulator … The best advice I can give is that if we read it before hearing about it, we are already on the wrong foot.”
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