New York’s Financial Regulator Searches for Crypto and Blockchain Deputy Superintendent

  • There are presently two deputy superintendents for the Research and Innovation Division.
  • The New York State of Financial Services prefers that applicants already have experience in compliance and the legal system with blockchain technology and cryptocurrency.

The blockchain and cryptocurrency industry in New York is very strict, requiring businesses to secure a Bitlicense before they can even operate in the state. Now, with a “special” focus on blockchain and cryptocurrency, The Block reports that the New York State of Financial Services is looking for a deputy superintendent.

Based on the job posting for this position, the superintendent would be working in the Research and Innovation Division. This division was only recently created, but already is in charge of overseeing the licensing of incoming crypto companies. The division was created with four executive appointments, including:

  • Matthew Homer, executive deputy superintendent
  • Matthew Siegel, deputy superintendent
  • Olivia Bumgardner, deputy superintendent
  • Andrew Lucas, counsel to the Research and Innovation Division.

In this position, the industrial would be offering their expertise on developing policies on cryptocurrency markets, while guiding the staff that will be reviewing all of the applications for licenses. The new hire will also have to work with the state and federal regulators continually and will continue offering advice to the NYDFS.

The NYDFS prefers that applicants have compliance and legal experience with blockchain technology and cryptocurrency. The deadline for submitting applications on October 31st. While some speculation suggests that the new appointment would replace either Bumgardner or Siegel, it could also end up being the third deputy superintendent to join the division.

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