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New York’s new cryptocurrency financial regulator revealed

The New York State Department of Financial Services has hired Promontory’s former director of digital asset strategy as its new virtual currency chief.

Peter Marton announced on LinkedIn in a Wednesday evening post that he accepted the position with New York’s financial regulator. His profile indicates he began the job in December. 

Marton spent more than six years at Promontory Financial Group, a financial services company owned by IBM. In his final year, he took on a digital assets-focused position. 

“Crypto supervision should be a marathon not a sprint, and I look forward forward [sic] to continue this effort in earnest,” he said in his LinkedIn post.

The NYDFS first began its search for a deputy superintendent focused on crypto in 2019. The position resides in the regulator’s Research and Innovation Division, which oversees licensing for crypto firms. The so-called Deputy Superintendent of Virtual Currency will provide expertise on crypto policy decisions, as well as guide the staff overseeing the review of licensing applications, including the BitLicense, New York’s gold standard for crypto businesses. 

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