Ben Lawsky, New York Department of Financial Services Superintendant, is stepping down as of next year.
Lawsky, the chief architect behind the NYDFS’ BitLicence proposal, is expected to leave in early 2015 for a job in the private sector.
His exit is part of what’s been called a mass exodus of staffers from recently re-elected New York Governor Cuomo, including his top aide, budget director, press secretary, and chief counsel.
This suggests that the BitLicence will be Lawsky’s swansong, his final great act as NYDFS Superintendant before he moves on to other things.
Lawsky has said in the past that his goal is to have the BitLicence completed by the end of the year. As a result, any further work done on it after it comes into play will be done by a new superintendant.
Whether Lawsky’s replacement will be more reasonable than Lawsky, or more tyrannical, remains to be seen.
The BitLicence
Meanwhile, the BitLicence continues to loom on the horizon.
The commentary period came to a close nearly three weeks ago, and since then the NYDFS has been relatively quiet on the subject.
Lawsky did, though, announce they were considering a “transitional BitLicence“, useful for startups and smaller companies, in order to give them an easier regulatory framework in which to operate.
This will likely be seen as too little, though, by some of the Bitcoin industry’s bigger players, many of whom have already spoken out against the BitLicence. Should it become law, some of these companies, including Circle, have claimed they will simply halt doing business with residents of New York.
BitLicence Architect Ben Lawsky Rumoured To Resign In 2015
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