NYDFS opens vacancy in cryptocurrency-industry oversight unit

The New York Department of Financial Services (NYDFS) posted a vacancy for deputy superintendent in the Office of Research and Innovation (RID).

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\”The person in this role will provide expert knowledge to support policy decisions and regulate developing and innovative markets, including virtual currencies and virtual-currency markets,\” the description states.

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The successful candidate will lead the development of initiatives and compliance measures related to cryptocurrencies and industry participants, engage with other regulators, and maintain outreach to stakeholders.

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Since 2015, NYDFS has regulated the cryptocurrency industry in New York. In 2019, the department established a new structure for overseeing the sector.

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RID monitors the development of financial technology and is responsible for issuing BitLicenses—licenses that allow firms to buy, sell and issue cryptocurrencies in the state.

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Back in March, the Bakkt platform for trading bitcoin derivatives became the 29th firm to receive a BitLicense.

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