Bybit Bolsters Compliance with Appointment of New Chief Authorized & Compliance Officer

Dubai, United Arab Emirates, September thirtieth, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency alternate by buying and selling quantity, is happy to announce the appointment of Robert MacDonald as the brand 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 regulatory compliance and combating monetary crime, reinforcing Bybit’s dedication to authorized integrity, principled compliance, and strong governance.

Robert’s management might be instrumental in paving a sustainable and accountable path for Bybit’s continued development. He started his profession practising prison regulation as a barrister in London, specializing within the discipline of monetary crime, earlier than serving the U.Okay. Ministry of Justice. Over the following decade, Robert launched into a cross-continental journey largely in conventional finance and banking, working for world establishments together with one of many world’s largest asset managers, South Korea’s hottest eCommerce firm, and crypto alternate Binance.

In his new position, Robert will oversee a joint authorized and compliance staff in navigating the quickly evolving regulatory panorama. The staff is comprised of a devoted taskforce of authorized counsels who cowl a wide selection of worldwide authorized points and topical analysis, in addition to a flexible compliance perform together with: a regulatory compliance perform taking care of licensing and registrations issues throughout jurisdictions and adherence to native necessities; a world compliance staff of Cash Laundering Reporting Officers; and specialists in compliance operations specializing in a protected 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 stands the check of time—lasting 100 years or extra,” mentioned Helen Liu, Chief Working Officer at Bybit. “A powerful basis begins with a tradition of compliance and a dedication to doing issues the correct method. We’re thrilled to have Robert on board, as his decade of expertise and eager perception into evolving regulatory traits might be invaluable to our continued development and long-term success,” she added.

Robert mentioned he sees inconsistencies in regulatory frameworks throughout jurisdictions as the important thing problem to the business. “There’s a lack of uniformity in how cryptocurrencies are categorized and controlled, which creates uncertainty for companies and buyers. Moreover, many governments are grappling with points associated to shopper safety, cash laundering, and taxation,” mentioned Robert MacDonald, Chief Authorized & Compliance Officer at Bybit.“ The concentrate on stabilizing and regulating stablecoins and making certain compliance with anti-money laundering (AML) and know-your-customer (KYC) laws are additionally urgent challenges. These points give respectable crypto exchanges with the technical know-how and proper tradition a chance to alter the digital asset business for the higher. For regulators, the evolving nature of the know-how and the fast-paced development of the crypto market is a ache level, and lots of acknowledge a rising demand for extra complete laws and clearer pointers,” he continued.

Undeterred by the challenges, Robert mentioned Bybit’s invitation introduced him a chance to make a distinction within the business. “I’m thrilled to affix Bybit at this thrilling time, this position brings collectively my authorized, compliance and former crypto experiences. Bybit is on an unbelievable development trajectory, and doing this in a sustainable method by making certain we construct a world-class authorized and compliance perform with adherence to native laws is vital”.

Caption: Robert Macdonald, Chief Authorized and Compliance Officer at Bybit at a panel at InnoBLock 2024 to debate challenges and techniques for main crypto exchanges on Sep. 16 in Singapore.

#Bybit / #TheCryptoArk

About BybitBybit is the world’s second-largest cryptocurrency alternate by buying and selling quantity, serving over 50 million customers. Established in 2018, Bybit offers an expert platform the place crypto buyers and merchants can discover an ultra-fast matching engine, 24/7 customer support, and multilingual neighborhood help. Bybit is a proud companion of System One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:) Purple Bull Racing staff.For extra particulars about Bybit, readers can please go to Bybit Press For media inquiries, readers can please contact: media@bybit.comFor extra data, readers can please go to: https://www.bybit.comFor updates, readers can please observe: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.com

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