Steven T. Cummings focuses his practice on the regulation of financial services providers, including virtual currency companies, money transmitters and payment processors. Prior to joining SRZ, Steven served as the Virtual Currency Applications Team Lead with the New York State Department of Financial Services (NYDFS). In this role, he supervised a team of lawyers and examiners in evaluating whether virtual currency companies satisfied NYDFS’s anti-money laundering, cybersecurity and consumer protection requirements. Steven also worked on various policy initiatives, including NYDFS’s notice of BitLicense application procedures, coin listing framework and proposed conditional BitLicense framework.
In addition to his role as Virtual Currency Applications Team Lead, Steven also served as an assistance counsel in the cybersecurity division, where he most recently authored guidance for financial services companies regarding steps they could take to help protect themselves from ransomware attacks.