As the proposed BitLicense takes shape, New York regulators are engaging in discussions with industry players.

On October 14, 2014 Benjamin N. Cardozo School of Law organized a panel discussion as part of its Tech Talks series on the topic of virtual currencies and the proposed BitLicense regime in New York. The keynote speaker, Benjamin Lawsky, Superintendent of the New York State Department of Financial Services (NYSDFS), spoke generally on the virtual currency industry and answered specific questions from the audience. His comments are summarized here.

General Comments on the Virtual Currencies Industry –

Superintendent Lawsky shared the NYSDFS’s thoughts in response to the comments it has received thus far in connection with New York’s proposed regulation of the virtual currencies industry. The following is a high level summary of some of the points made by Superintendent Lawsky.