BitPay Names VISA Veteran Tim Byun as Chief Compliance Officer
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....
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Former Visa anti-money laundering and anti-terrorist financing officer Tim Byun has announced that he will join Georgia-based bitcoin merchant processor BitPay as its chief compliance officer. Byun served as a Visa executive from February 2009, and previously worked at the Federal Reserve Bank of San Francisco and the Federal Deposit Insurance Corporation (FDIC). BitPay executive chairman Tony Gallippi framed the hiring as a move that would further demonstrate his company is meeting the expectations of US regulators as it seeks to expand bitcoin adoption among global merchants. Gallippi....
Elizabeth Ploshay, communications director for Bitcoin Magazine and an elected board member of the Bitcoin Foundation, is leaving the publication to join the account management team at BitPay. Ploshay's new position at BitPay was announced on the company's official blog. In her capacity as Account Manager, Ploshay will work to enroll more charitable organizations and political campaigns in the bitcoin ecosystem. The addition of Ploshay to BitPay's account management team represents yet another high-profile talent acquisition by the company. Earlier this week, BitPay announced that former....
U.S. regulators are slowly rubbing Bitcoin into the existent regulatory framework. New York's 'BitLicense' draft, which recently made head waves for its heavy-handed approach, was yet another reminder that regulation is unavoidable. PaymentWeek, an information service for the emerging payments industry, hosted an enlightening webinar — regulatory experts discussed challenges of regulation and the future impact on cryptocurrencies. The panel included New York Law School professor Houman Shadab, financial services lawyer Carol Van Cleef, and Visa veteran and current BitPay chief compliance....
Hot on the heels of the release of the proposed bitcoin regulation announced by the New York State Department of Financial Services (which was done so on Reddit.com by DFS Superintendent Benjamin Lawsky), comes the public statements of several bitcoin companies. BitPay Chief Compliance Officer Tim Byun said that " It is commendable that NY DFS and Ben Lawsky are supporting innovation while ensuring balanced regulations," adding that the framework released offers a "Strong understanding of the bitcoin ecosystem, including valuable services to consumers that would benefit from an emerging,....
Circle Internet Financial isn't the only bitcoin company to issue remarks on the proposed BitLicense regulations put forth by the New York Department of Financial Services (NYDFS) today. Read: Circle Issues Remarks on BitLicense Ahead of Comment Period Deadline. Atlanta, Georgia-based BitPay also issued remarks today, submitting them to NYDFS Superintendent Benjamin Lawsky, just one day before the public commenting period on the proposal comes to a close (Tuesday, October 21st). The five-page document, authored by BitPay Chief Compliance Officer Tim Byun, covers a number of topics relating....