New York State Department of Financial Services’ virtual currency unit head Peter Marton is stepping down from his position at the end of September.

He joined the unit in late 2021 as the deputy superintendent of the virtual currency unit. A global recruitment process will be followed to fill the position by Oct. 9.

Marton will be joining a private company that is not regulated by the department. Earlier, Marton served as the director of digital assets at consulting firm Promontory Financial Group which is part of IBM Consulting.

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NYDFS Superintendent Adrienne Harris believes that the department added more than 60 virtual currency experts to its team and hence the department will continue to deliver effective results for the state. 

Matt Homer, a former executive deputy superintendent at the NYDFS, told The Wall Street Journal that while Marton's exit is noteworthy, it isn't calamitous. Homer pointed out that executives typically serve about two years at the agency.

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