BitMEX Hired a Compliance Expert

Derivatives exchange BitMEX has hired a new chief compliance officer after its executives clashedwith accusations of money laundering and fraud.

Monitoring compliance with regulatory requirementstook over by Malcolm Wright. Wright himself noted that his main task is to form and maintain cooperation between the exchange and regulators.

This forced measure was taken aftercharges by the US Department of Justice and the CFTC against Arthur Hayes and several other exchange executives for violating anti-money laundering (AML) laws.

Wright has extensive experience in complianceregulatory requirements and chairs the Advisory Board and the Financial Action Task Force on Anti-Money Laundering (FATF) for Virtual Asset Service Providers (VASP) at Global Digital Finance. Wright's experience will certainly prove to be very important for BitMEX, given the recommendations released this summer by the FATF.

New rules actually force countriesimpose stringent anti-money laundering and identity collection requirements to end the anonymity inherent in the cryptocurrency concept.

Subscribe to ForkNews on Telegram to be the first to know the news from the world of cryptocurrencies