- Reaction score
- 1,697
Bitcoin may be emerging from a few weeks of negative headlines, but one of the most outspoken financial regulators says he still sees promise in the virtual currency.
"I do think it holds a lot of promise (if money laundering can be adequately addressed), both on its own and in terms of causing existing payments system technologies to up their game," Benjamin Lawsky, New York's superintendent of financial services, wrote Thursday in a two-hour question-and-answer session on social news site Reddit.
Lawsky has spoken publicly about the future of bitcoin, a decentralized currency created in 2008 by a person or people under the pseudonym Satoshi Nakamoto, and its peers before. Earlier this month, he said there could be a "kernel of something here that will have a profound impact on the future of payments technology and our financial system," even as he cited recent problems with the bitcoin exchange Mt. Gox and acknowledged regulators are not the experts, necessarily, on cryptocurrency.
On Thursday, he wrote of his personal evolution on the subject, citing a not-quite "Rocky-IV-final-scene about-face," but saying he and his colleagues had become more supportive as they learned more about cryptocurrencies.
www.nationaljournal.com
"I do think it holds a lot of promise (if money laundering can be adequately addressed), both on its own and in terms of causing existing payments system technologies to up their game," Benjamin Lawsky, New York's superintendent of financial services, wrote Thursday in a two-hour question-and-answer session on social news site Reddit.
Lawsky has spoken publicly about the future of bitcoin, a decentralized currency created in 2008 by a person or people under the pseudonym Satoshi Nakamoto, and its peers before. Earlier this month, he said there could be a "kernel of something here that will have a profound impact on the future of payments technology and our financial system," even as he cited recent problems with the bitcoin exchange Mt. Gox and acknowledged regulators are not the experts, necessarily, on cryptocurrency.
On Thursday, he wrote of his personal evolution on the subject, citing a not-quite "Rocky-IV-final-scene about-face," but saying he and his colleagues had become more supportive as they learned more about cryptocurrencies.
New York Might Be First to Regulate Bitcoin
State regulator still positive on the virtual currency but warns it won't be allowed to develop in a vacuum.
Last edited:
