Home / Ethereum Latest News / Tether Appoints Former BMO Manager As Chief Compliance Officer

Tether Appoints Former BMO Manager As Chief Compliance Officer

The newly employed Leonardo Real prior to now labored for BMO Financial Group. But what took place to Tether’s former CCO?

On Thursday, Tether Limited announced the hiring of Leonardo Real as its leader compliance officer. Before Tether, Real served because the AML high quality keep an eye on supervisor for the Bank of Montreal, in line with his LinkedIn profile. He additionally had stints at firms referred to as Bridgeforce Financial and Day Trade The World.

What’s enthusiastic about Real’s hiring is that the CCO place at Tether (and at Bitfinex) prior to now belonged to a gentleman named Matthew Tremblay, no less than in line with knowledge to be had on Crunchbase.

Tremblay’s title and likeness are now not at the “about us” pages for Bitfinex or Tether. It’s no longer transparent whether or not he stays with both corporate or, if Tremblay left, what the instances had been for his departure.

Readers would possibly keep in mind that in June, simply days after a Tether “transparency replace” claimed full reserves for its USDT, Bitfinex’s leader technique officer, Phil Potter, left the company. A couple of days later, Tether’s printing press persisted its odd activity. Many journalists and academics have raised considerations about Tether, questioning whether or not the cryptocurrency model of the USA buck is getting used to artificially prop up the cost of bitcoin.

These questions are specifically vital bearing in mind the CFTC’s subpoena of Bitfinex and Tether in December in addition to Bitfinex’s sizeable buying and selling volumes. At the time of writing, the change purports to facilitate the third-largest 24-hour quantity of BTC/USD business on the earth, in step with CoinMarketCap.

Doubts are warranted, because the cryptocurrency group desperately pleas for transparency and suitable oversight. This complete factor may cross sideways, however Tether’s newest announcement is a small act of fine religion. “We are specifically excited to announce this key rent [Leonardo Real] at a seminal level within the lifetime of the blockchain and cryptocurrency sector. As the trade matures, all actors inside the area can be anticipated to satisfy a better usual of trade absolute best practices.” mentioned Bitfinex CEO Jean-Louis van der Velde.

Van der Velde added, “As Tether continues to paintings to grasp our imaginative and prescient of overall transparency and unparallelled [sic] safety inside the cryptocurrency marketplace, we can all the time endeavour to set the gold usual in regulatory compliance. Leonardo will play a very powerful position in realising those goals, and we’re very excited to welcome him aboard as we look ahead to all that lies forward.”

Matthew is a full-time group of workers creator for ETHNews with a zeal for legislation and generation. In 2016, he graduated from Georgetown University the place he studied world economics and track. Matthew enjoys cycling and being attentive to podcasts. He lives in Los Angeles and holds no worth in any cryptocurrencies.

ETHNews is dedicated to its Editorial Policy

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