Amid a rapidly evolving regulatory landscape, cryptocurrencies services provider Blockchain.com has hired its first chief compliance officer.
The company has onboarded CJ Rinaldi, who recently served as head of markets compliance in the Americas for broker-dealer firm Deutsche Bank Securities. The officer assumed his role in October, working under the company’s chief legal officer Lindsey Haswell.
According to Blockchain.com, Rinaldi’s experience will be vital in engaging regulators globally in establishing the crypto business. Interestingly, Blockchain.com is expected to double its compliance in the future.
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Rinaldi has also worked as a senior counsel for U.S. Securities and Exchange Commission enforcement division.
Haswell acknowledges that the regulatory concern is the main barrier facing the crypto sector while expressing the company’s overall goal.
“The lack of clarity on the regulatory framework for cryptocurrency is the biggest challenge today. Blockchain.com’s leadership, including its chief executive and board, are all pushing for a predictable regulatory landscape and want to be trusted partners with regulators,” said Haswell.
More crypto businesses scaling up regulatory desks
Blockchain.com joins other crypto-related businesses to ramp up their compliance desks as regulators increasingly crackdown on the sector. Crypto exchange Binance is a notable entity that has put more focus on positioning itself to work better with regulators.
As we previously reported, CEO Changpeng Zhao said the company aims to double the compliance team by the end of the year.
Blockchain.com’s latest hiring comes as the company expands its services globally which have translated into more revenues. The company has recorded a $1.5 billion in revenue year-to-date for 2021.
Furthermore, more people continue to leverage its platform for its various crypto-related platforms. According to our previous report, Blockchain.com added a record 22.86 million unique crypto wallets between November 2020 and November 2021, growing 40.9% from 55.89 million recorded last year.
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