Bitstamp Hires New CCO to Guide Exchange Through ‘Evolving Regulatory Landscape’
Bitstamp has hired a new chief compliance officer (CCO) in a bid to stay ahead of the “evolving regulatory landscape,” the business said via a blog post on Wednesday.
The appointment of Thomas Hook, formerly of online payments firm Bluesnap, joins the crypto exchange as a “key part of our strategic plan for continued growth and development.”
The CCO is once again returning to the crypto arena having worked for over a year-and-a-half at mobile payments platform Circle, where he conducted anti-money laundering (AML) and Know-Your-Customer (KYC) compliance.
Specifically, Hook is charged with maintaining a dialogue with global regulators, based on his prior risk and compliance experience. Hook’s main focus has been in AML, KYC, sanctions compliance and financial investigations in traditional finance as well as in crypto, per a LinkedIn page.
Hook began his career as an assistant district attorney in the Cybercrime and Identity Theft Unit at the New York County District Attorney’s Office. The new CCO has also spent time at financial services company American Express, auditing firm KPMG and software company Pegasystems, where he performed various roles relating to compliance and financial investigations.
“A compliance first culture is critical in today’s financial services businesses and none more so than in crypto exchanges,” Hook said. “AML/KYC and the implementation of the controls [are] needed to continue to evolve.”
Bitstamp Group, comprised of Bitstamp Europe SA based in Luxembourg, Bitstamp Ltd in London and Bitstamp USA Inc out of New York, is one of the industry’s oldest cryptocurrency exchange businesses.Source