Wyoming Division of Banking (WDB)
Wyoming, USAThe Wyoming Division of Banking (WDB) is the primary regulator/supervisor of state-chartered banks, trust companies, money transmitters, mortgage lenders/brokers and consumer credit providers in the Equality State.
The WDB is heavily involved in the regulation of digital assets and financial technology, and is currently engaged in the following activities: (1) integrating digital assets with the U.S. banking system; (2) establishing supervisory standards for digital asset custody, fiduciary/market transactions and AML/KYC/beneficial ownership; and (3) ramping up financial technology sandbox activities.
The WDB is a leader among state financial regulators in the U.S., with Wyoming's current and past Banking Commissioners having served as Chairman of the Conference of State Banking Supervisors (CSBS). Wyoming today has an active role in CSBS, the Money Transmission Regulators' Association, National Association of Consumer Credit Administrators and the American Consumer Financial Innovation Network.
Geographical Jurisdiction
WyomingBanking, trust companies, trusts/estates/wealth management, money transmission, mortgages, consumer credit, digital asse
- Guidance on the application of laws and rules to innovative business models
- Support with authorisation to operate in our jurisdiction
- Live Sandbox testing environment
- Waivers or exemptions, for any entity meeting certain criteria
- Engagement with firms on regtech and suptech solutions
- Engagement with innovators and/or other third parties (e.g. academics, consultants and other organisations)
- Facilitating hackathons, TechSprints or similar events
- Assistance finding potential public or private sector partners / service providers (enquire for details)
Focus Area
- 'Innovative' financial product or service ("New or emerging technology, or new uses of existing technology, that provides a product, service, business model or delivery mechanism to the public and has no substantially comparable, widely available analogue. . ..").
- Willingness to have a genuine dialogue/collaborate with regulators.
