Peter Marton, who has led the virtual currency unit of the New York State Department of Financial Services (NYDFS), is stepping down from his role. Marton served as the deputy superintendent of virtual currency at the state’s regulatory authority since December 2021. Prior to joining the NYDFS, he held the position of director of digital assets at the Promontory Financial Group, which has affiliations with IBM consulting, media reports said.
In response to Marton’s departure, NYDFS Superintendent Adrienne Harris praised his contributions, stating, “Pete Marton is an extraordinary talent and has been integral to the Department’s transformation of the Virtual Currency Unit over the last two years.”
Harris highlighted the department’s significant expansion, having onboarded more than 60 virtual currency experts, and expressed confidence in the team’s ability to continue delivering exceptional results for the state of New York. She also conveyed her best wishes for Marton’s future endeavors, emphasizing the department’s commitment to attracting and nurturing top talent.
The NYDFS has initiated the search for a replacement for Marton’s position, with an application deadline set for October 9, as indicated in a job listing.
In recent developments, the NYDFS proposed an expansion of its oversight over cryptocurrency firms seeking to list digital assets in the state. Under the proposed guidelines, crypto companies would be required to adhere to specific standards when assessing risks, encompassing concerns such as fraud, price manipulation, and the adequacy of liquidity to meet customer demands.