New York state regulator's virtual currency chief Peter Marton to depart

Peter Marton, who led the New York State Department of Financial Services’ virtual currency unit, is leaving. 

Marton had been the deputy superintendent of virtual currency at the state’s regulatory watchdog since December 2021, according to his LinkedIn. Before, he was a director of digital assets at the Promontory Financial Group, which is connected to IBM consulting.

"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," NYDFS Superintendent Adrienne Harris said in an emailed statement. 

Harris added that the department had added more than 60 virtual currency experts to its team, and said she is confident that the team will continue to deliver "best-in-class results for New York."

"Attracting and developing top talent will always mean our staff are offered great new opportunities. We wish Pete all the success and happiness in his new future role," Harris said. 

The department is looking to fill Marton's position by Oct. 9, according to a job listing. 

Past work

NYDFS has been particularly active in regulating crypto for years, having launched its BitLicense regime in 2015. A slew of firms have virtual currency licenses in the state including Coinbase, Circle Internet Financial and Robinhood Crypto, according to its site, although some firms have closed up shop in the state. 

On Monday, the regulator proposed bolstering its oversight of crypto firms looking to list coins in the state. Under the proposed guidance, crypto firms would have certain standards on how they assess risk, including fraud, price manipulation and whether there is enough liquidity to meet customer demand.