2024

United

<p><span><strong>Dubai, United Arab Emirates, September 30th, 2024, Chainwire</strong></span></p>
<p class="ql-align-justify"><a href="https://www.bybit.com/en/press" rel="noopener noreferrer nofollow" target="_blank">Bybit</a>, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce&nbsp;the appointment of Robert MacDonald as the new Chief Legal &amp; Compliance Officer. With a distinguished career spanning both the public sector and traditional finance, Robert brings a wealth of expertise in regulatory compliance and combating financial crime, reinforcing Bybit’s commitment to legal integrity, principled compliance, and robust governance.</p>
<p class="ql-align-justify">Robert’s leadership will be instrumental in paving a sustainable and responsible path for Bybit’s continued growth. He began his career practicing criminal law as a barrister in London, specializing in the field of financial crime, before serving the U.K. Ministry of Justice. Over the next decade, Robert embarked on a cross-continental journey mostly in traditional finance and banking, working for global institutions including one of the world’s largest asset managers, South Korea’s most popular eCommerce company, and crypto exchange Binance.&nbsp;</p>
<p class="ql-align-justify">In his new role, Robert will oversee a joint legal and compliance team in navigating the rapidly evolving regulatory landscape. The team is comprised of a dedicated taskforce of legal counsels who cover a wide array of global legal issues and topical research, as well as a versatile compliance function including: a regulatory compliance function looking after licensing and registrations matters across jurisdictions and adherence to local requirements; a global compliance team of Money Laundering Reporting Officers; and specialists in compliance operations focusing on a safe and responsible client onboarding process including rigorous compliance controls throughout the user lifecycle.&nbsp;</p>
<blockquote>
 <p>“Bybit’s vision is to build a company that stands the test of time—lasting a hundred years or more,” said <strong>Helen Liu, Chief Operating Officer at Bybit</strong>. “A strong foundation begins with a culture of compliance and a dedication to doing things the right way. We’re thrilled to have Robert on board, as his decade of experience and keen insight into evolving regulatory trends will be invaluable to our continued growth and long-term success,” she added.</p>
</blockquote>
<blockquote>
 <p>Robert said he sees inconsistencies in regulatory frameworks across jurisdictions as the key challenge to the industry. “There is a lack of uniformity in how cryptocurrencies are classified and regulated, which creates uncertainty for businesses and investors. Additionally, many governments are grappling with issues related to consumer protection, money laundering, and taxation,” said <strong>Robert MacDonald, Chief Legal &amp; Compliance Officer&nbsp;at Bybi</strong>t.“ The focus on stabilizing and regulating stablecoins and ensuring compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations are also pressing challenges. These issues give legitimate crypto exchanges with the technical know-how and right culture an opportunity to change the digital asset industry for the better. For regulators, the evolving nature of the technology and the fast-paced growth of the crypto market is a pain point, and many acknowledge&nbsp;a growing demand for more comprehensive regulations and clearer guidelines,” he continued.</p>
</blockquote>
<blockquote>
 <p>Undeterred by the challenges, Robert said Bybit’s invitation presented him an opportunity to make a difference in the industry. “I am thrilled to join Bybit at this exciting time, this role brings together my legal, compliance and previous crypto experiences. Bybit is on an incredible growth trajectory, and doing this in a sustainable manner by ensuring we build a world-class legal and compliance function with adherence to local regulations is key”.</p>
</blockquote>
<p><img decoding="async" src="https://www.ethnews.com/wp-content/uploads/2024/09/Slide2_1727689030AZv1bGe4Vb.jpeg">Caption: Robert Macdonald, Chief Legal and Compliance Officer at Bybit at a panel at InnoBLock 2024 to discuss challenges and strategies for leading crypto exchanges on Sep. 16 in Singapore.&nbsp;</p>
<p>#Bybit / #TheCryptoArk</p>
<h5><strong>About Bybit</strong></h5>
<h5><a href="https://www.bybit.com/en/" rel="noopener noreferrer nofollow" target="_blank">Bybit</a> is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.</h5>
<h5>For more details about Bybit, readers can please visit <a href="https://www.bybit.com/en/press" rel="noopener noreferrer nofollow" target="_blank">Bybit Press</a>&nbsp;</h5>
<h5>For media inquiries, readers can please contact: <a href="mailto:media@bybit.com" rel="noopener noreferrer nofollow" target="_blank">media@bybit.com</a></h5>
<h5>For more information, readers can please visit: <a href="https://www.bybit.com/" rel="noopener noreferrer nofollow" target="_blank">https://www.bybit.com</a></h5>
<h5>For updates, readers can please follow: <a href="https://www.bybit.com/en-us/promo/global/communities/" rel="noopener noreferrer nofollow" target="_blank">Bybit’s Communities and Social Media</a></h5>
<h5>Contact</h5>
<p><span><strong>Head of PR</strong><br></span><span><strong>Tony Au</strong><br></span><span><strong>Bybit</strong><br></span><span><strong>tony.au@bybit.com</strong><br></span></p>
<p>The post <a href="https://www.ethnews.com/bybit-bolsters-compliance-with-appointment-of-new-chief-legal-compliance-officer/" rel="noopener noreferrer nofollow">Bybit Bolsters Compliance with Appointment of New Chief Legal &amp; Compliance Officer</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

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

ETHNews

Other articles published on Sep 30, 2024

Ohio locals may be able to pay the bills using crypto in future

$550,000 BTC ATH by 2030 Prediction Fuels Bitcoin Adoption as Analyst Shares 8 Trillion Market Ca...

Ethereum Foundation Offloads ETH Worth Over $10M in 2024: Details

TrueCoin and TrustToken Settles with SEC for Misleading TUSD Backing

BTC options activity is heating up as Uptober and US election nears

Ethereal Exchange posts community vote proposal to build USDe perpetual DEX

Join our free newsletter for daily crypto updates!