The transparency of cryptocurrencies and the blockchain industry is not only vital for development, it is vital for ensuring the integrity of the industry on the whole. As a part of this, in the pursuit for total honesty, when big crypto-names employ new staff, it is important for announcements to be made.
When somebody positive, with great promise and potential joins the ranks of a renowned cryptocurrency movement, things can take off. This goes to show both how volatile cryptocurrency markets are, but also reinforces the importance of transparency and honesty.
With this in mind, leading cryptocurrency exchange, Bitfinex, has named their new Chief Compliance Office (CCO) as Peter Warrack, Ex-director of Anti-Money Laundering at Fintech Advisor and Ex-CCO at the Bank of Montreal. All in all, Warrack’s wealth of experience in the finance sector and focus on financial crime and anti-money laundering makes him the perfect candidate for the job.
The CEO of Bitfinex, Jean-Louis van der Velde has commented on Warrack’s appointment, stating:
“We are exceptionally excited to have Peter join Bitfinex. His knowledge and experience, combined with our shared belief in blockchain playing a leading role in the future of the global economy, makes him a unique and valuable talent for our team.”
Warrack, seconds this optimism, stating that:
“I am incredibly excited to be joining Bitfinex as CCO. As a longtime advocate of blockchain technology and the integration of token markets into the mainstream, I hope to be a valuable asset to Bitfinex moving forward and to help facilitate the continued expansion of their service offering to professional and institutional traders by ensuring the highest standard of regulatory compliance.”
With cryptocurrency regulation becoming a hot topic, the appointment of Warrack provides Bitfinex with some vital insight into the risks they may be exposed too and of course, can offer plenty of insight into how these risks can be combatted. Moreover, Warrack’s appointment promises to provide customers of Bitfinex some much needed reassurance that there is somebody there, working hard to ensure that their assets are secure and that their much-loved cryptocurrency exchange is as safe from attack, as they are.
Further to this, Warrack’s expertise in anti-money laundering means that Bitfinex can address the situation of money laundering within cryptocurrency with great authority. All in all, this proves to be a promising move for Bitfinex and for Warrack, who I am sure is pretty happy about this appointment and who of course will be profiting from it quite nicely.
As I have stated, this sort of news is very important as, it suggests that going forward, Bitfinex will continue to develop their security and thus will cement themselves as a crypto-exchange for the future. Any future work carried out by Bitfinex in order to stamp our money laundering will be seen in a good light by authorities meaning that maybe when the time comes, Bitfinex will already be ten steps ahead of any new restrictions, this is something that Bitfinex traders and currencies listed within Bitfinex, can only benefit from.