Peter Marton Joins NYSDFS as Virtual Currency Chief

The New York State Department of Financial Services (NYSDFS) has recently hired Peter Marton, the former Direct Digital Assets at Promontory Financial Group, as its next Deputy Superintendent of Virtual Currency (Virtual Currency Chief).

In a post on LinkedIn, Marton mentioned that the position is in the research and innovation division of the financial regulator. The newly appointed Virtual Currency Chief of NYSDFS expressed his happiness and outlined the need for a clear crypto regulatory framework for the growth of the global digital asset ecosystem.

“As I head into my next chapter, [I] wanted to send a big thank you to the folks at Promontory, a Business Unit of IBM, particularly those who helped build the digital assets practice over the past few years. As a born and raised New Yorker, [I'm] pretty excited to announce that I've joined state government as the next Deputy Superintendent of Virtual Currency (or 'virtual currency chief') within Research & Innovation at the New York State Department of Financial Services. A lot more to come,” Marton noted in the post on LinkedIn.

Crypto Regulations

In the global cryptocurrency ecosystem, regulations are the most important topic for discussion these days. While countries like El Salvador have adopted Bitcoin as legal tender in the region, developed economies are still exploring different aspects and applications of digital currencies to introduce relevant regulations. With a GDP of more than $1.7 trillion, New York state is one of the biggest economies in the US. Some of the world’s leading crypto and blockchain companies are based in the region.

“Crypto supervision should be a marathon, not a sprint, and I look forward to continuing this effort in earnest,” Marton added.

The new Virtual Currency Chief of the New York State Department of Financial Services holds an MBA from the University of Texas, Austin.