Former SEC Chair Takes Advisory Roles at BitPay and Vaurum
Two significant US-based bitcoin companies, BitPay and Vaurum, have signed a former chairman of the Securities and Exchange Commission to their respective advisory boards. The Wall Street Journal reported today that consultant Arthur Levitt - who served as SEC chairman from 1993 to 2001 and was actually the longest-serving person in that role - has joined the boards in order to guide the bitcoin firms' approach to financial regulation. Levitt affirmed he was impressed by the "innovative energy" of the digital currency industry's youthful representatives, but that they remained unaware of....
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Arthur Levitt, the former Chairman of the United States Securities and Exchange Commission (better known to you and me as the SEC) will reportedly be serving as advisor to two bitcoin enterprises. They're BitPay and Vaurum. Now, BitPay you've heard about before, no doubt. My coverage of the company has been extensive. But as far as Vaurum goes, you may have heard a little about this bitcoin exchange earlier this year when it was announced that investor Timothy Draper would be using the Silk Road bitcoins he acquired to help out with their market liquidity. As advisor to both companies, Mr.....
Decentralized crowdfunding platform Koinify announced today that they have brought aboard both Vinny Lingham aboard, where they will be taking advisory roles. Vinny Lingham is, of course, the CEO of Gyft - a service that allows consumers to easily purchase gift cards to their favorite stores online. Gyft is highly regarded in the cryptocurrency community, as they accept bitcoin payments. Lingham will be serving on Koinify's advisory board. "Vinny is one of the best entrepreneurs I know, especially when it comes to bootstrapping a startup and creating a product people love. We are....
Arthur Levitt, former Chairman of the US Securities and Exchange Commission (SEC), will serve as advisor to Bitpay and Vaurum. Levitt, the longest serving Chairman of the SEC, will work closely with both companies to monitor business practices as well as help develop new ways to market and refine this new form of currency. He said: "Bitcoin is a fascinating new product in the rapidly changing world of financial service. I hope to help BitPay and Vaurum blend their new business models with core monetary methods and transparency practices in order to ensure their long term success."....
Now that financial regulators have started to step up their game in conducting oversight on the bitcoin industry, cryptocurrency companies have been adding former heads of financial regulation institutions to their advisory board. BitFury recently announced that the former chair of the Commodity Futures and Trading Commission (CFTC), which is responsible for financial oversight in the US, will be joining their advisory board. Ex-CFTC head Dr. James Newsome will be joined by Hernando de Soto, president of the Institute of Liberty and Democracy (ILD), in the advisory board. Newsome....
The former Securities and Exchange Commission (SEC) chairman Arthur Levitt discussed the evolving regulatory landscape for bitcoin companies and the commission's ability to keep up with fast-paced technological changes in a wide-ranging interview on Bloomberg TV yesterday. Levitt, who is the SEC's longest-serving chairman, became one of the highest-profile figures from the world of financial regulation to enter the cryptocurrency space when he announced that he was joining BitPay and Vaurum as an advisor two days ago. In the Bloomberg TV interview, Levitt said he had been approached by six....