BitMEX, the world’s largest bitcoin cryptocurrency exchange by means of traded volume, has hired a regulatory veteran from Hong Kong’s Securities and Futures Commission to oversee the overall company’s development.
Building Bridges
Bitcoin Mercantile Exchange (BitMEX) is a cryptocurrency exchange which handles Bitcoin exclusively and is currently the largest one in terms of Bitcoin traded volumes, according to data from CoinMarketCap.
The company has moved to hire Angelina Kwan as its Chief Operations Officer. According to the official release, Kwan’s task will be to oversee the overall development of the exchange, effective immediately.
Kwan is a certified public accountant, and she has served as a managing director as well as a head of regulatory compliance at the Hong Kong Exchanges and Clearing from 2015. Before that, she was a director at the Securities and Futures Commission for 8 years between 1998 and 2006, covering market supervision and enforcement.
Speaking on the matter, Kwan said:
I hope my previous experience will help in establishing a constructive dialogue with the various regulatory authorities around the world over the development of regulation in the cryptocurrency industry.
Prominent Position
BitMEX has established itself as the market’s leader when it comes to handling Bitcoin trading. The exchange handles 5 times the Bitcoin trading volume of the next exchange in line, hitting a little less than $1.8 billion in the last 24 hours alone.
The company made headlines recently, as it became known that it’s supposedly paying $600,000 per month for its office in Hong Kong.
Furthermore, BitMEX co-founder Arthur Hayes has been quite vocal with his predictions on the price of Bitcoin by year’s end, saying that it will reach $50,000. He said:
Now that we have more visibility, more people talking about [bitcoin], the time between an aggressive bear market and an aggressive bull market, I think, is going to shorten.
What do you think of BitMEX’s new hire? Don’t hesitate to let us know in the comments below!
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