Lawsky: New Consulting Firm Can't Advise on BitLicense

Following the appointment of several former federal officials to the strategic board of some bitcoin startups, New York Department of Financial Services (NYDFS) superintendent Benjamin Lawsky announced his plans to step down and form a digital currency consulting group. Anonymous sources cited that the former NYDFS chief is set to create a legal consulting firm to advise clients on matters involving bitcoin and digital currencies. Prior to this, the NYDFS already announced in a press release that Lawsky will leave office in late June after his four-year stint. Digital Currency Consulting.....

The Wall Street Journal reports that Benjamin Lawsky, the superintendent of the New York Department of Financial Services (NYDFS) who is expected to issue this month a new regulation for digital currency businesses called BitLicense, which has been widely criticized for being unnecessarily strict, will leave the NYDFS in June. Lawsky said that he will form a consulting business that will include virtual currency advisory services. "[Lawsky] plans to advise companies on financial matters such as cybersecurity and digital currencies like bitcoin, a new sphere of regulation he helped....

Just recently, New York Department of Financial Services (NYDFS) superintendent Benjamin Lawsky announced his decision to step down from office to start a business consulting firm. Lawsky has been known for his strict implementation of financial regulation in the state and for BitLicense. BitLicense is a framework of regulation designed to oversee activities in the bitcoin industry in particular. This has drawn a lot of opposition, particularly from bitcoin startups, who might wind up incurring too many costs in acquiring the necessary licenses to offer their products and services in New....

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....

Former New York regulator Benjamin Lawsky, who oversaw what many consider the most restrictive state bitcoin regulation known as BitLicense, now works as a counsel and media liaison for Axoni, a blockchain technology firm that uses blockchain in settling derivative transactions, according to Reuters. Lawsky said he intended to start a consulting business when he announced his departure from the New York Department of Financial Services last spring, CCN reported. As a regulator, Lawsky had a reputation for consistently pushing for larger fines and stricter rules. Lawsky’s firm, the Lawsky....