Benjamin M. Lawsky leaves NYDFS

NYDFSThe head of the New York Banking Supervision (State Department of Financial Services, in short NYDFS) Benjamin M Lawsky, has announced his resignation. He shared also that he is trying to set up his own legal advice.

The resignation has already caused some headlines and some details were made public. The New York Post reports about the fact that Lawsky will probably focus on the possible legal advising clients from the digital currency industry. Lawsky garnered both praise and criticism with the drafting of the New York BitLicense that should provide the legal framework for companies to use digital currencies.

In a press release Lawsky said:

“I am deeply proud of the work our team has done building this new agency and helping strengthen oversight of the financial markets. We have assembled a great team at NYDFS and I have full confidence that the critical work of this agency will continue seamlessly moving forward. I also want to thank Governor Cuomo for the trust he showed in appointing me to this position and for providing us with the opportunity to serve the people of New York. On a personal level, I am deeply grateful to the Governor, who has been an incredible mentor and amazing friend to me over the past eight years.”

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