New York has 'outsized role to play' in crypto ecosystem — State regulator head

Adrienne Harris says the financial services regulator she runs takes a “tough but fair" approach to digital asset companies.

Adrienne Harris, the head of the New York State Department of Financial Services (NYDFS), said New York has an “outsized role to play” in the crypto ecosystem, particularly in shaping regulatory frameworks for digital assets.

During a panel on May 14 at Consensus 2025 in Toronto, she said the NY estate is frequently asked to provide guidance on regulators. “With respect to federal regulation and legislation [...] members of Congress are often coming to us [NYDFS] asking about our process, about our regulations, about guidance, how they should be thinking about legislation,” Harris said.

According to Harris, the NYDFS was “unnecessarily tough” and lacked resources in the past. Now, under her purview, she said the NYDFS is “tough but fair,” noting that the digital currency oversight team has since doubled in size.

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