Benjamin Lawsky: My Firm Doesn't Offer Bitcoin Consultancy
Benjamin M Lawsky has rubbished the reports of him offering consultations on New York's Bitcoin regulatory framework, the BitLicense. The comments arrived during Lawsky's first public appearance since his resignation as the superintendent of New York Department of Financial Services (NDFS). The tough-nut financial watchdog was being interviewed by the American Banker editor-in-chief Marc Hochstein, where he faced a series of controversial questions concerning his new consultation firm. The interviewer had asked Lawsky whether he had any conflict-of-interest in monitoring and issuing....
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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:
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.....
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....
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....
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.