Bloomberg Law Analysis

ANALYSIS: NY’s BitLicenses Legitimize Cryptocurrency (Podcast)

Nov. 26, 2019, 11:55 AM

In this third and final episode in the Law X.0 series on cryptocurrency, New York Department of Financial Services Superintendent Linda Lacewell discusses the BitLicense program. The program enables virtual currency projects, including those that touch the state’s mammoth banking sector. Initially unpopular among the Fintech and crypto communities, New York’s BitLicenses are lending legitimacy to virtual currency projects. 2019 was the busiest year yet, with NYDFS licensing eight crypto projects.

Lacewell discusses how her department is ramping up its cryptocurrency reviews, recent approval of stablecoin projects, and its win in litigation against the U.S. Comptroller of the Currency over cryptocurrency licensing.

Law X.0 is a podcast focused on the leading edge of law and the legal industry. Stay tuned for more emerging legal topics.

Hosts: Dori Goldstein and Meg McEvoy

Guest: Superintendent Linda Lacewell, New York Department of Financial Services

Producers: RJ Jewell

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