NYDFS Hires New Deputy Superintendent of Virtual Currency

The New York State Department of Financial Services (NYDFS) has hired Peter Marton as deputy superintendent of virtual currency, according to a post from Marton on LinkedIn Wednesday.

The NYDFS had been looking to fill this role for some time. The position is in its research and innovation division and has a special focus on virtual and digital currencies, blockchain, distributed ledger technology and other related innovative and derivative products and technologies, according to the initial job posting.

Marton previously worked for six and a half years at Promontory Financial Group, a subsidiary of International Business Machines, according to his LinkedIn profile, and spent the last six months as its director of digital assets.

“Crypto supervision should be a marathon not a sprint, and I look forward…to continue this effort in earnest,” Marton wrote in his LinkedIn post.

NYDFS regulates financial services and products, including those subject to New York state’s insurance, banking and financial services laws. The department is the regulator that created the New York BitLicense, which crypto businesses operating in the state are required to have.

NYDFS didn’t immediately respond to CoinDesk’s request for comment. The news of Marton’s hiring was first reported by The Block.

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