- Cryptocurrency derivatives change Bybit has appointed Daniel Lim as general counsel.
- The information comes after UK’s FCA issued a warning towards Bybit.
ByBit, some of the fashionable and well-known crypto derivatives exchanges on this planet (the third largest by open curiosity), has been within the information in current days with somewhat unwelcome headlines. The UK’s Financial Conduct Authority (FCA) issued a warning towards Bybit, every week earlier than it introduced that it might cease providing its companies within the nation.
The UK monetary regulator warned that the change is “unauthorized” and targets individuals within the UK. Since January 06, all exchanges providing crypto derivatives within the UK have needed to register with the FCA. Since ByBit, as a Singapore-based change, was “targeting people in the UK,” in response to the FCA, the warning was issued.
In gentle of this information, the cryptocurrency derivatives change introduced at the moment that it has appointed Daniel Lim as General Counsel. Lim is a banking and finance veteran with greater than 20 years of expertise and can be accountable for global compliance matters as nicely as overseeing the company’s authorized crew. Previously, Lim served as Head of Legal and Compliance at a world funding financial institution in Singapore.
Commenting on Lim’s appointment, Ben Zhou, co-founder and CEO of Bybit, stated:
We are happy to welcome Daniel, who brings with him distinctive experience and foresight to our burgeoning trade. Daniel will assist bolster Bybit’s compliance posture in a fast-changing regulatory atmosphere and maintain our ambition to build belief and supply worth for purchasers across the globe.