Hong Kong-based cryptocurrency exchange BitMex has hired Angelina Kwan, former compliance head at Hong Kong Exchanges and Clearing Limited (HKEX), to take on the role of its Chief Operating Officer.
Kwan has over two decades of experience in the traditional finance and funds compliance industry, ranging from retail securities trading to asset management. She will oversee and manage BitMex’s all relevant compliance issues which may offer some encouragement to crypto investors as the space looks for signs of increasing institutional involvement.
For the past three years, Kwan has served as the HKEX’s managing director and head of regulatory compliance. Her expertise also includes eight years with the Hong Kong’s financial regulator, the Securities and Futures Commission of (SFC).
BitMex, which handled nearly $1.3 billion in bitcoin trading volumes over the past 24 hours, said the hire reflected its commitment to compliance, as well as its recognition that companies require seasoned teams to deal with regulatory requirements in different countries.
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Hiring Spree from Mainstream Finance Industry Continues
Kwan’s appointment comes as the Seychelles-based exchange is intended to provide further crypto trading products in Hong Kong with the expertise and experience required to ensure that it can understand and meet relevant regulatory compliance standards.
These new hires from mainstream finance firms respond to the recent calls to regulate cryptocurrency exchanges, which are gathering steam with several regulators now require the operators of such venues to perform the same level of client due diligence as banks do.
Commenting on the appointment, BitMEX CEO and Co-founder Arthur Hayes said: “I believe Angelina’s decision to join us is a signal that the global markets are shifting focus to the rapidly-expanding domain of crypto-coins. Angelina’s vast experience in regulation, trading platforms, business development, restructuring, and investor and stakeholder relations will be pivotal as we continue the push towards mainstream cryptocurrency adoption and broaden our community.”
Kwan said regarding her appointment: “My most memorable accomplishments — from successfully restructuring and relisting a bankrupt financial services company, spearheading the establishment of new operations or companies, to serving on a number of boards and committees — have been joining organizations that are at the cusp of making a major breakthrough, so it’s with a sense of great excitement that I take on the challenge of driving BitMEX to new market heights.”
She also noted: “Cryptocurrency markets present an exciting new opportunity for women to get involved in the intersection of finance and technology, two fields in which they are chronically under-represented.”