Late last month, New York Department of Financial Services (“DFS”) Superintendent Benjamin Lawsky (“Lawsky”) (accompanied by DFS Assistant Deputy Superintendent Maria Filipakis, General Counsel Danny Alter, and Deputy General Counsel Dana Syracuse) presided over two days (five panels) of virtual currency-related hearings.  (To view any of the panel comments in their entirety, visit http://www.totalwebcasting.com/view/?id=nysdfs.)  The hearings represent the most recent activity by New York’s top financial regulator concerning Bitcoin, which began last August when twenty-two industry participants received subpoenas in connection with Lawsky’s launch of an “information gathering” inquiry.  The hearings appear to have solidified Lawsky’s intent to introduce a new regulatory framework for virtual currency firms doing business in New York.  In light of the various testimonies at the hearings, Lawsky’s announcement raises many questions regarding the purpose and scope of such new regulatory framework.