NYDFS Wants to Hire a Deputy Superintendent With Crypto Knowledge

The New York State Department of Financial Services (NYDFS) is looking to hire a deputy superintendent for its newly created Research and Innovation Division.

With a major focus on the blockchain and cryptocurrencies industry, the new department will oversee the processing and issuance of a license, such as BitLicense, to businesses related to digital currencies in the state, according to the job posting.

The occupant of the position is expected to coordinate with other state and federal regulators while providing updates to NYDFS with strategic guidelines on issues related to the fast-growing cryptocurrency industry.

Going with the duties, the occupants will provide expertise to support policy decisions and the regulation of emerging innovative markets, including digital currency markets and businesses.

In addition, the document noted the responsibility of the potential employee “directing the development of enforcement procedures relating to virtual currencies, consistent with overarching policies, including but not limited to NYCRR Part 200.”

Although no formal qualifications were stated for the position, the regulator highlighted that the applicants with experiences on compliance and legal matters related to blockchain and digital currencies are preferred. 

“This is an appointment to a position in the exempt jurisdictional class,” per the posting, and the application is open until October 31.

In another recent report concerning NYDFS, Attorney Pierre Ciric, the lawyer representing former Bitcoin entrepreneur, Theo Chino moved a lawsuit they filed against the regulator to the New York Court of Appeals.

It was back in October 2015, that Theo Chino filed a case against NYDFS with the New York Supreme Court over a decision by the regulatory body that crypto-related companies serving residents of the state must operate with the BitLicense.

While the NYDFS still mandates crypto businesses to hold that license, the move to the Court of Appeals is seeking the dismissal of that requirement.