Rajarshi Mitra
Independent Analyst
- BitLicense founder Benjamin Lawsky may leverage his position as a lawmaker to help serve a $140 million Bitcoin fund.
- He was earlier accused of generating consulting work for himself by issuing controversial regulations for crypto firms.
Benjamin Lawsky, the architect of the controversial BitLicense, appears to have leveraged his position as a lawmaker to help serve a Bitcoin fund. According to a recent SEC filing, Lawsky is now a part of a $140 million Bitcoin fund. In the filing, NYDIG ASSET ADVISORY LLC is listed as the fund’s general partner and Benjamin Lawsky is listed as an elected manager of the advisory.
Mike Dudas, the founder of The Block, tweeted:
This is rich. The guy who invented the BitLicense is granted a BitLicense and launches a $140 million bitcoin fund. - @mdudas
Lawsky was earlier accused of generating consulting work for himself by issuing controversial regulations for crypto asset companies before leaving his post at the New York Department of Financial Services. At the time, he had said:
The rules are very clear. If anyone… said ‘I want to hire you to help get a BitLicense from DFS,’ no can do.
In 2015, Lawsky helped in creating the controversial BitLicense aimed to regulate New York-based crypto companies. This regulation made it very difficult for many crypto firms to operate in the state. Companies like Kraken and Bitfinex stopped providing services for New Yorkers for the same reason. Two years after creating the BitLicense, Lawsky began offering regulatory assistance through his company - The Lawsky Group. He advertised his services explicitly to crypto startups.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto Today: SHIB, Pi Network and DOGE emerge as top gainers as Bitcoin crosses $2T market cap
Bitcoin price hits $105,800, claiming the $2 trillion valuation milestone, after US and China confirmed a temporary trade agreement to lower tariffs. Shiba Inu, Pi Network and Dogecoin emerge as top gainers among the 20 main crypto assets.
Dogecoin price 40% surge tests crucial resistance amid easing trade tensions
Dogecoin (DOGE) rally gains bullish momentum to exchange hands at $0.25 at the time of writing on Monday. Since the tariff-triggered crash on April 7, the largest meme coin by market capitalization has edged higher on easing trade tensions.
Bitcoin Price Forecast: BTC edges closer to all-time high as US-China trade deal cheers markets
Bitcoin price stabilizes around $104,000 on Monday after rallying 10.44% the previous week. Risk-on gains traction as the US and China agree to major tariff reductions for 90 days.
Sui eyes new record high as network redefines AI, gaming and DeFi
Sui price tests above $4.00 for the first time since early February, upholding a broad-based bullish momentum. Sui is crafting a new ecosystem, redefining how builders and users interact with AI, Gaming and DeFi.
Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.