BitMEX, which last year agreed a $100 million settlement with US promoters over compliance issues, has hired former Coinbase Global Inc. managing director Marcus Hughes to serve as the cryptocurrency platform’s new chief risk officer. has kept.
Mr Hughes, who will work between offices in Europe, Asia and North America, guide the company’s legal strategy, build out its risk and compliance program and engage with regulators and policymakers, BitMEX said in a blog post on Thursday. said.
Mr. Hughes will report directly to BitMEX Chief Executive Alexander Houptner.
In August the platform agreed a $100 million settlement with the Financial Crimes Enforcement Network, a bureau of the US Treasury Department, and the Commodity Futures Trading Commission.
The agencies said BitMEX failed to maintain an anti-money laundering program that allowed US customers to access the platform while failing to verify their identities.
BitMEX’s efforts to implement a more assured compliance program come as it begins plans to grow its business and expand globally.
“The next phase in our growth will be characterized by the expansion of the platform’s capabilities, combined with an equally ambitious push into markets around the world,” Mr Hughes said. He added that a “world-class risk management, compliance and regulatory-affairs program” will be key to the plan.
Prior to joining BitMEX, Mr. Hughes served as the Managing Director of Coinbase’s European business. According to his LinkedIn profile, he previously spent nearly a decade at Morgan Stanley as an executive director in its compliance and legal division.
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