Benjamin Lawsky to Issue Fresh Bitcoin Regulations before Stepping Down
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....
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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.....
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....
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:
Speaking at the BITS Emerging Payments Forum today, Superintendent of the New York Department of Financial Services Benjamin Lawsky released the final set of Bitcoin regulations, commonly known as BitLicense. The rules and regulations will govern only the financial intermediaries associated with Bitcoin and other virtual currencies. Mr. Lawsky said: "The emergence of digital currency and other new forms of payments technology represent an important test for financial regulators such as NYDFS. We have a responsibility to regulate new financial products in order to help protect consumers and....
A simple reminder that New York State Department of Financial Services Superintendent Benjamin Lawsky has begun to answer questions on social sharing website Reddit.com. The AMA (ask-me-anything), which is taking place here, is expected to focus on Lawsky's work to regulate bitcoin and bitcoin businesses in the State of New York. As of this writing, Lawsky has only answered one question, but with over 100 comments on the thread piled up already, he's got a long way to go. Check it out for yourself. Who knows, you may even have your question answered.