Coinbase Beefs up Regulatory Division as Crypto Scrutiny Intensifies
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Increased regulatory scrutiny has impacted a number of crypto exchanges over the last 12-months. Regulatory activity has seen a marked pickup in recent weeks, however. The increase in activity and chatter has led to a number of strategic hires across the crypto sector.
Strategic Hires Across the Crypto Sector
Binance (BNB), among the world’s largest crypto exchanges, has been particularly active in recent months. Directly impacted by regulatory activity, there has been plenty of news of Binance making strategic hires across its global footprint to manage regulatory risk.
Binance has faced a number of testy moments with regulators in the UK, Ontario Canada, and India, among others. News had also hit the wires late last year of Binance withdrawing its Singapore application for failing to meet Monetary Authority of Singapore (MAS) requirements.
With regulatory scrutiny on the rise and regulators calling for a global crypto regulatory framework, there appears to be a sense of urgency within the sector to get ready for more frequent regulatory challenges.
Finding candidates from government agencies, with first-hand experience in regulatory oversight, including anti-money laundering aspects appear to be key. In the coming months, expectations are for regulators to impose stricter measures to protect investors. Crypto firms will need to be in a position to hold meaningful discussions with regulators.
Coinbase Beefs Up Regulatory Division
This week, news hit the wires of Coinbase (COIN) hiring Thaya Knight. In addition to working for Commissioner Elad Roisman, Knight also worked as counsel for SEC Commissioner Hester Peirce. According to the report, Knight joins Coinbase as a senior public policy manager, which involves monitoring the regulatory landscape.
With SEC Chairman Gensler warning of increased regulatory scrutiny, the strategic hire is likely to be a timely one for Coinbase.
This article was originally posted on FX Empire