Bite-Sized Business Law The BitLicense Architect on How It All Began and Where It's All Headed for Crypto Regulation
Effective regulation is essential for cryptocurrency to develop successfully! Today, we are joined by New York State’s first Superintendent of Financial Services and the CEO of the Lawsky Group, Benjamin Lawsky, to discuss how the regulatory landscape has evolved since the early days of crypto and where he sees Bitcoin heading next. Tuning in, you’ll hear all about Benjamin’s interesting career, how it led him to where he is today, his initial reaction to the concept of the BitLicense, how the regulations were written, and more. We delve into what the BitLicense is and why it’s important before discussing state versus federal regulation and how regulation has become more challenging over time. Benjamin even tells us how he keeps up with an industry that evolves so quickly. Finally, our guest tells us how he sees crypto evolving in the near future. To hear all this and be inspired to always say yes in the early stages of your career, be sure to press play now!
Key Points From This Episode:
- An introduction to today’s guest, Benjamin Lawsky, and an overview of his career.
- He tells us what he was doing when the idea of a BitLicense arose and his involvement.
- What the BitLicense is, what it does, and the process of writing the regulations.
- How the stakes have risen for regulation over time, and state vs. federal regulation.
- Benjamin explains how he bridges the expertise void in crypto as a regulator.
- Why he loves working with students and the power of always saying yes.
- How Benjamin sees cryptocurrency evolving in the near future.
- He shares his advice for young lawyers who are interested in this space.
Links Mentioned in Today’s Episode:
Fordham University School of Law Corporate Law Center