Atlanta, Georgia-based BitPay announced today they’re bringing aboard Tim Byun as a Chief Compliance Officer.
Byun, who is the former Anti-Money Laundering/Anti-Terrorist Financing Officer at VISA began his new role at the company at the Digital Banking Summit conference on the 2nd of June, in which he spoke about ‘The Digital Future’.
“As the bitcoin industry continues to grow, BitPay wants to ensure that our policies and procedures fall inline with various state, federal and international regulations. For this reason, we hired Tim to set up and maintain our compliance structure,” said BitPay CEO Tony Gallippi in a statement.
Byun’s experience at VISA (previously as the head of the Global Credit Settlement Risk department) allowed the company to remain in compliance with today’s regulations and laws.
His experience goes beyond VISA, when he served as the Examining Manager at the Federal Reserve Bank of San Francisco, in the Division of Banking Supervision and Regulation — a position he held for nine years.
Byun, who holds an MBA from UCLA and Bachelor’s degree from the University of Southern California, will be speaking on the behalf of BitPay at the Bitcoin in the Beltway event taking place in Washington, D.C. from June 20-22. He’ll be based in the company’s newly-formed San Francisco office.
BitPay has also hired a new General Counsel/Compliance Manager, Ms. Anjali Kamath.
Kamath previously worked as a compliance manager at ClearPoint. Kamath — who graduated from Stamford University — also held a compliance position at Lindner’s Capital Advisors Inc for five years.
The news highlights the company’s desire to continue its growth while remaining in strict compliance with regulations.
That compliance, some argue, is especially difficult given the lack of clarity surrounding rules in the crypto-currency sector.