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Bank’s Ex-Official To Adjust Global Regulatory Process In Firm Blockchain

Published: 12/10/2018
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Blockchain, a digital wallet provider, has employed a former Noble Bank’s executive to its legal department, Coindesk reports.

 

Ben Melnicki, ex-chief compliance officer at Noble Bank, was appointed as an international regulatory advisor at Blockchain, a Luxembourg-located crypto company.

 

In view of his new responsibilities, Melnicki, in tandem with Marco Santori, who holds the presidency and manages the company's legal department, will work on streamlining the regulation of digital currencies in international jurisdiction. According to Melnicki, the cooperation with Santori will help strengthen the future of the cryptocurrency ecosystem.

 

Government agencies have been bringing up the issue of blockchain technology since 2013, however, according to the newly appointed Blockchain advisor, the problematic points associated with the regulation of this sphere have changed since then.

 

Melnicki believes that officials should more thoroughly study the issue of the blockchain industry, since the technology is rapidly evolving due to the discoveries and innovations made by developers  from all over the world.

 

In his opinion, regulators are just trying to work out such a mechanism for the new ecosystem that suggests “market participants to operate within confines.”

 

As previously reported, the Commodity Futures Trading Commission stated that the modern crypto sphere regulation requires a fundamental reorganization.

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Blockchain
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