BitMEX Picks Hong Kong Regulatory Veteran for COO Role

 In Exchanges, Governments and Regulations

BitMEX has hired Angelina Kwan to oversee its regulatory compliance and overall development.

Cryptocurrency exchange BitMEX has appointed Hong Kong regulatory expert Angelina Kwan to the position of chief operating officer (COO), the South China Morning Post reported on Tuesday. Kwan will oversee the overall development of BitMEX and ensure it stays compliant with both existing and future global cryptocurrency regulations.

In the past three years, Kwan served as managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited (HKEX). She also spent eight years at the Securities and Futures Commission of Hong Kong (SFC).

“My most memorable accomplishments — from successfully restructuring and relisting a bankrupt financial services company, spearheading the establishment of new operations or companies, to serving on a number of boards and committees — have been joining organizations that are at the cusp of making a major breakthrough, so it’s with a sense of great excitement that I take on the challenge of driving BitMEX to new market heights,” Kwan said in the company’s statement.

BitMEX co-founder and CEO Arthur Hayes added:

“I believe Angelina’s decision to join us is a signal that the global markets are shifting focus to the rapidly-expanding domain of crypto-coins. Angelina’s vast experience in regulation, trading platforms, business development, restructuring, and investor and stakeholder relations will be pivotal as we continue the push towards mainstream cryptocurrency adoption and broaden our community.”

Kwan’s appointment comes shortly after BitMEX moved its headquarters to Hong Kong. The exchange plans to provide additional trading products in the city, which, being an autonomous territory of China, does not inherit the Chinese approach towards crypto and is yet to set specific regulations governing the nascent industry.

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Complaints about misappropriated assets and market manipulation led to a number of SFC warnings about the dangers associated with cryptocurrency trading. Last month, Hong Kong Monetary Authority (HKMA) chief executive Norman Chan Tak-lam also warned that trading in virtual coins carries high risks because the de facto central bank does not consider them a “currency.”

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