According to an internal memo obtained by Fox Business, Peter Marton will leave his position as deputy superintendent of virtual currency at the New York State Department of Financial Services on September 29.

There has been no public discussion of the memo or Marton’s termination. The department’s superintendent, Adrienne Harris, stated in the memo that Marton will pursue opportunities in the private sector.

As director of Digital Assets, Marton worked at a financial subsidiary of IBM before taking the state job. Harris commended Marton for helping to build “the largest and most talented team of virtual currency regulators in the nation.” 

For almost two years, Marton was in the position of deputy superintendent for virtual, as per his LinkedIn profile, and during that time he oversaw the major policy decisions regarding digital assets and blockchain technology.

A press official for the department confirmed Marton’s departure and stated Harris, said, “As we move forward with a global search for his replacement, I am confident that the team we have put in place will continue to deliver best-in-class results for New York. We wish Pete all the success and happiness in his new future role.”

All crypto companies doing business in New York must apply for and be granted a “BitLicense,” a license for companies that offer virtual currency. The job description for Marton’s position stated that he was in charge of all management of the BitLicense application procedure, examinations, and ongoing oversight of BitLicensees.

As stated above, Marton’s department has made no official announcement; however, The Financial Services Department is advertising his position on its website with an application deadline of Oct. 9.  The full time job offers an annual salary range of $162,868 to $201,711.

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