GENIE OUT OF THE BOTTLE: Lawsky, the outgoing superintendent of the state's Department of Financial Services, said finance industry watchdogs have to accept that cyber-currencies are here to stay, and could have "a profound impact" on payments technologies and the financial system over the coming decade.
WASHINGTON: New York’s powerful banking regulator Benjamin Lawsky said that digital currencies like Bitcoin pose a major challenge, but should not be stifled.
Lawsky, the outgoing superintendent of the state’s Department of Financial Services, said finance industry watchdogs have to accept that cybercurrencies are here to stay, and could have “a profound impact” on payments technologies and the financial system over the coming decade.
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