BitMEX Exchange Hires First Compliance Chief After US Charges

BitMEX, the cryptocurrency derivatives exchange recently charged by U.S. authorities, has hired an industry veteran to lead its compliance efforts going forward.

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In a blog post Monday, the exchange's operator 100x announced Malcolm Wright will come aboard as the first chief compliance officer for the group.
Wright comes with 30 years of experience in compliance and anti-money laundering, per the post.
He currently chairs the Advisory Council and AML Working Group at Global Digital Finance, as well as being a speaker on topics including the Financial Action Tasks Force's international guidance for regulators around virtual asset service providers.
According to his LinkedIn profile, Wright is also an associate fellow of the Centre for Financial Crime and Security Studies at the U.K.'s Royal United Services Institute, a body working to address financial crimes.
100x said the new hire will lead the group's compliance efforts internationally and will report to the new interim CEO and COO Vivien Khoo.
Khoo replaced former CEO Arthur Hayes last week amid the fallout from the legal issues that hit the company on Oct. 1.
BitMEX, other associated entities including 100x and its founders were charged by both the U.S. Commodity Futures Trading Commission and federal prosecutors in New York over allegations the exchange had illegally offered derivatives trading to customers in the U.S. and violated the Bank Secrecy Act.
BitMEX's operator has since said it will carry out business as usual but saw fit to shake up the executive team, removing Hayes and other founders Samuel Reed and Ben Delo from executive roles.
The hiring of the compliance chief would seem to be the latest reaction to the charges, and an effort to avoid similar situations in future.
[Updated after clarification from 100x] 100x told CoinDesk prior to Wright joining as chief compliance officer, Khoo had been responsible for building the "regulatory affairs" function.

Also read: BitMEX CTO Released in US After Payment of $5M Bond

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