During DC Financial Technology, Linda Lacewell, head of the New York Financial Services Department (NYDFS), said in a speech at Georgetown University that the agency is re-examining its controversial virtual currency license, BitLicense. This license requires that any company that conducts cryptocurrency transactions with New York residents must obtain a license to operate in that state, even if the company is located elsewhere. Lacewell said: "Now is a good time to see how our system adapts to the current market. Should we consider making any adjustments to continue to adapt to the changing industry? This will be (one of the things we have to do) "But she warned the audience not to be "too excited" about the outcome of the retrial. In a speech to the media after the speech, Lacewell said that the regulator is comparing the cryptocurrency industry that BitLicense first implemented in 2015, and the developments since then.