TRON has recently announced that they have welcomed their first head of compliance, David Labhart, to navigate those choppy regulatory waters.
Times are a changing. As the crypto industry moves towards a more regulated sphere, platforms are looking to do everything that they can to ensure that their businesses don’t get left behind.
TRON Welcomes New Member
According to a recent press release, major crypto and blockchain platform, TRON, has hired its very first head of compliance. The newest member of the team, David Labhart, is no stranger to regulations. He has spent almost 15 years in the securities industry. In fact, he worked at the U.S. Securities and Exchange Commission (SEC) for nearly a decade.
While there, he was a Supervisory Attorney in the Office of Compliance Inspections and Examinations. It was in this position that Labhart really gained his experience in emerging risks and technology, a category that both virtual currencies and blockchain fall into.
Most recently, he has worked for S&P Global Ratings, where he provided advice on regulations pertaining to crypto, blockchain, AI and cloud computing.
While spending years gaining traditional regulatory experience, Labhart is excited about a disruptive future. He said:
Joining TRON is the perfect progression in a career driven by a passion for the frontier of financial industry; where technology meets regulation. Blockchain and cryptocurrency are the next step in the evolution of the world’s financial system, and I’m excited about Justin’s passion and long-term view of the benefits and potential impact of this new technology.
TRON’s founder and CEO, Justin Sun, touched on the future of industry regulations and how TRON will be at the forefront of embracing them:
As the cryptocurrency space matures, investors and regulatory agencies around the world must trust that TRON has a forward-thinking and stable growth trajectory that doesn’t run afoul of any regulatory requirements.
If you happen to be in San Francisco next week, you’ll be able to hear Labhart speak at the niTROn Summit on the 18th of January. He will be joined by Sun, NBA star Kobe Bryant and Jazz Kang of Swisscom Blockchain.
Regulation is the Name of the Crypto Game
We’re not even two weeks in and 2019 already appears to be the year of industry regulations. Indian authorities have stated that virtual currencies will be regulated in the country while Japanese regulators are looking into the possibility of introducing exchange-traded funds (ETFs).
While some in the industry might not be happy about this process, others are welcoming it. BitcoinerX recently reported that crypto exchange, Gemini, has released a new ad campaign seemingly embracing regulating the industry.
Do you think that more platforms will need to hire compliance professionals in the not-too-distant future? Let us know in the comments below!
Images courtesy of Pixabay.