Dubai, United Arab Emirates, 30 September 2024, Chainwire
Bybit, the world's second largest cryptocurrency change by buying and selling quantity, is happy to announce the appointment of Robert MacDonald as its new Chief Authorized & Compliance Officer. With a distinguished profession spanning each the general public sector and conventional finance, Robert brings a wealth of experience in compliance and monetary crime, strengthening Bybit's dedication to authorized integrity, compliance and strong governance.
Robert's management can be instrumental in paving a sustainable and accountable path for Bybit's continued progress. He started his profession in prison regulation as a barrister in London specializing in monetary crime earlier than working on the UK Ministry of Justice. Over the subsequent decade, Robert traveled throughout continents largely in conventional finance and banking, working for international establishments together with one of many world's largest asset managers, South Korea's hottest e-commerce firm, and Binance crypto change.
In his new function, Robert will oversee the joint authorized and compliance workforce whereas navigating a quickly evolving regulatory surroundings. The workforce consists of a devoted working group of authorized advisors who cowl a variety of worldwide authorized points and present analysis, in addition to a flexible compliance operate, together with: a compliance operate that handles cross-jurisdictional licensing and registration issues and native compliance ; a worldwide compliance workforce of cash laundering reporting officers; and compliance operations specialists with a give attention to a safe and accountable shopper onboarding course of together with rigorous compliance controls all through the person lifecycle.
“Bybit's imaginative and prescient is to construct an organization that may stand the take a look at of time – lasting 100 years or extra,” he mentioned Helen Liu, COO at Bybit. “A powerful basis begins with a tradition of compliance and a dedication to doing issues the proper approach. We’re thrilled to have Robert on board as his many years of expertise and eager perception into evolving regulatory tendencies can be invaluable to our continued progress and long-term success,” she added.
Robert mentioned he sees inconsistencies in regulatory frameworks throughout jurisdictions as a key problem for the trade. “There’s a lack of uniformity in how cryptocurrencies are categorized and controlled, creating uncertainty for companies and traders. As well as, many governments are fighting points associated to client safety, cash laundering and taxation,” he mentioned. Robert MacDonald, Chief Authorized & Compliance Officer at Bybit.” Specializing in stabilizing and regulating stablecoins and guaranteeing compliance with anti-money laundering (AML) and know-your-customer (KYC) rules are additionally urgent challenges. These points present reliable crypto exchanges with the technical know-how and the proper tradition the chance to vary the digital asset trade for the higher. For regulators, the evolving nature of expertise and the fast progress of the crypto market is a ache level, and lots of acknowledge the rising demand for extra complete rules and clearer steerage,” he continued.
Undeterred by the challenges, Robert mentioned Bybit's invitation gave him the chance to vary the trade. “I’m excited to affix Bybit at this thrilling time, this function brings collectively my authorized, compliance and former cryptocurrency expertise. Bybit is on an unimaginable progress trajectory and doing so sustainably by guaranteeing we construct a world-class authorized and compliance operate with native compliance is essential.”
Caption: Robert Macdonald, Chief Authorized and Compliance Officer at Bybit on a panel at InnoBLock 2024 discussing challenges and methods for crypto change leaders on September 16 in Singapore.
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About BybitBybit is the second largest cryptocurrency change on the planet by buying and selling quantity, serving greater than 50 million customers. Based in 2018, Bybit supplies knowledgeable platform the place crypto traders and merchants can discover an ultra-fast matching engine, 24/7 customer support and multilingual group assist. Bybit is a proud accomplice of Formulation 1's reigning constructors' and drivers' champions: the Oracle (NYSE: ) Purple Bull Racing workforce. For extra particulars about Bybit, readers can go to Bybit Press For media inquiries, readers can contact: media@ bybit.com For extra data, readers can go to: https://www.bybit.com For updates, readers can observe: Bybit Communities and Social Media ContactHead of PRTony AuBybittony.au@bybit.com
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