Following conflict of interest accusations, the former NYDFS Superintendent publicly responded to critics by saying he’s not doing any work in the digital currency space. Notwithstanding Ben Lawsky’s denial, the optics of establishing a private practice purporting to help clients navigate the very rules you create leaves a less than flattering image. Similar criticisms of the so-called “revolving door” among regulators have existed for years within legacy banking.
Bravo to Marc Hochstein, Editor-in-chief of American Banker, for asking Mr. Lawsky point blank about the perceived conflict of interest.
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For years, crypto businesses have been told federal clarity is “coming soon.” At this point, “coming soon” has started to sound like a movie trailer