Adrienne Harris, the Superintendent of the New York Department of Financial Services (NYDFS), has announced her departure from the regulatory agency, effective October 17, 2025. The announcement, made on Monday, marks the end of a noteworthy tenure that began in August 2021.
Harris, who previously served as a special assistant in the White House under former President Barack Obama, has played a crucial role in shaping the regulatory landscape for the rapidly evolving cryptocurrency industry. New York Governor Kathy Hochul praised Harris, stating that she has been dedicated to ensuring that the financial system serves the interests of New Yorkers while modernizing the agency itself.
As the first state in the U.S. to implement specialized regulations for cryptocurrency firms, NYDFS introduced the pioneering BitLicense framework, which has been in effect for a decade. This regulatory initiative has set a precedent for other states attempting to navigate the complexities of financial technology and digital currencies.
In the lead-up to her departure, Harris reflected on her nearly four-year period in office during a recent address at the Digital Asset Compliance & Market Integrity Summit hosted by Solidus Labs. She remarked on how the landscape of the industry has significantly evolved since her appointment, emphasizing the need to adapt regulatory frameworks accordingly.
Under Harris’s leadership, NYDFS issued 11 key regulatory guidelines aimed at enhancing the BitLicense framework, addressing emerging issues such as stablecoins, blockchain analytics, and coin listings. “It was essential to provide regulatory clarity to support innovation,” she stated, highlighting the necessity of evolving guidelines that match the dynamism of the digital asset sector.
Harris also noted the effort made by NYDFS to collaborate with federal lawmakers, which has seen members from both Congressional chambers seek the agency’s expertise on cryptocurrency regulations. “I believe it’s a testament to our work that we are consulted for advice and edits, some of which have made it into current legislative proposals,” she added.
The agency did not shy away from rigorous enforcement actions during Harris’s tenure, including a thorough investigation into the Binance dollar stablecoin (BUSD), which was issued by the firm Paxos. This particular inquiry traces its roots back to developments in 2023, showcasing the agency’s commitment to upholding compliance and consumer protections in the dynamic crypto market.
Following Harris’s departure, Kaitlin Asrow, the NYDFS Executive Deputy Superintendent of Research and Innovation, will assume the role of acting superintendent. Asrow is expected to guide the agency through this transitional period while maintaining its regulatory initiatives.
In closing her statement, Harris expressed gratitude for her time at NYDFS, noting the significance of her contributions to both the agency and the broader financial landscape. The upcoming leadership change is anticipated to influence the ongoing dialogue around cryptocurrency regulation and its integration into the mainstream financial system in New York and beyond.
