NYDFS Superintendent: Finalized BitLicense will be released by end of May

Benjamin M. Lawsky, New York Department of Financial Services (NYDFS) superintendent, has said that he expects the finalized version of the BitLicense regulatory framework to be released towards the end of next month.

While speaking to reporters earlier this week during a Dow Jones risk and compliance conference in New York City, he pointed out that his office is in contact with other state regulators and is monitoring how both domestic and foreign regulation of cryptocurrency activities is making progress.

"We're going to see how this all shakes out. I think there's room for federalism, but at the same time if you have a whole series of different rules and it becomes a crazy quilt patchwork, that can get hard to comply with," he said.