Former NYDFS Superintendent Benjamin Lawsky Denies BitLicense Cronyism Allegations
Former New York State Department of Financial Services (NYDFS) superintendent Benjamin Lawsky denied allegations from the Bitcoin community suggesting he created the BitLicense as a setup for his newly established legal firm, The Lawsky Group. Lawsky said he is not allowed to work on anything related to the BitLicense for the rest of his life. Lawsky countered the criticism during an interview with American Banker editor in chief Marc Hochstein. The interview, held at the American Banker Digital Currencies + the Blockchain Conference in New York City, was Lawsky's first public appearance....
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The Department of Financial Services superintendent, Benjamin Lawsky, who has been leading the charge in an effort to regulate bitcoin, is reportedly considering resigning from his position in early 2015. Benjamin Lawsky is perhaps the most powerful person in New York State to be pushing regulation on the bitcoin community. Many are curious as to where Lawsky will go: a bank? a finance company? a Bitcoin company? an elected position? After the election of last week, it's not uncommon to see several resignations follow. Perhaps the most interesting resignation is that of Benjamin Lawsky.....
Ever since Benjamin Lawsky, former superintendent of the New York Department of Financial Services (NYDFS), and the man behind the BitLicense, departed from his job and founded a virtual currency compliance consultancy firm, he has faced accusations of creating a conflict of interest. Soon after departing from the NYDFS, Benjamin registered the Lawsky Group in Delaware on June 17, 2015, his firm located at 27 East 62nd Street in Manhattan. Lawsky’s new business quickly attracted criticism from the Bitcoin community. Bitcoin.com published a piece on the issue, which stated:
BitLicense is extremely controversial in the Bitcoin community. Not only is it the first comprehensive body of Bitcoin regulation in the United States, but it is also the most restrictive. BitLicense was created by the New York Department of Financial Services (NYDFS), with Benjamin Lawsky — the Department’s superintendent — leading the charge. The....
Superintendent of the New York Department of Financial Services (NYDFS), Benjamin Lawsky's final act will include unveiling of the Bitcoin licensing rules. The regulator, who served four years as the agency's first superintendent, recently announced that he will step down from the office in late-June but will protect the interests of the customers with the new set of regulations. According to a WSJ report, Lawsky is planning to present the widely-awaited BitLicense regulations next week. The Bitcoin community is expecting Benjamin Lawsky's version of BitLicense to stifle innovations and....
Benjamin Lawsky, Superintendent of the New York Department of Financial Services (NYDFS), is slated to appear at the Benjamin N. Cardozo School of Law to discuss bitcoin on October 14th, according to this event page. The title of the 'Tech Talk' is Regulating Digital Currency: BitLicense and the Internet of Value, and Lawsky is perhaps one of the better-suited individuals working for the government that can speak on the topic. Lawsky's NYDFS currently has a proposal out right now for BitLicense scheme, which requires companies working in the digital currency industry in the State of New....