Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
coinableS
on 21/05/2015, 00:24:56 UTC
An interesting detail from here

http://www.bloomberg.com/news/articles/2015-05-20/bank-regulator-lawsky-to-exit-with-new-york-6-billion-richer

Ben Lawsky stands down as New York's financial supernintendo

'The 45-year-old regulator plans to set up his own consulting firm in New York, advising financial institutions on matters related to technology, cybersecurity and virtual currency.'

Teensy conflict of interest there. He creates the problem and then charges for the solution.


Ok so we all get what he's doing to make money. However I think this is a very bullish development. He stepped down and is creating his own firm to handle regulation on digital currencies like bitcoin, meaning he knows bitcoin is here to stay and there is money to be made in the sector.  Lawsky talked to higher-ups and big dirty bankers and likely knows what is coming down the pipe for bitcoin from a regulation and banking perspective.  If he stepped down and decided to start a law firm that handled other financial regulations that did not include virtual currency, then that would have been a huge red flag of bad things to come for bitcoin.