Blockchain platform TRON has hired former United States Securities and Exchange Commission (SEC) supervisory attorney David Labhart as its first head of compliance to help navigate the company’s interaction with world financial authorities.
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TRON, one of the 10 largest cryptocurrencies in the world, is committed to working with regulatory agencies and other financial authorities and developing blockchain, peer-to-peer and other technologies in a responsible way, said Justin Sun, TRON founder and CEO.
“As the cryptocurrency space matures, investors and regulatory agencies around the world must trust that TRON has a forward-thinking and stable growth trajectory that doesn’t run afoul of any regulatory requirements,” Sun said.
Labhart, who also will serve as TRON co-general counsel, has extensive legal and regulatory experience, with nearly 15 years in the securities industry.
He spent nine years at the U.S. Securities and Exchange Commission, including time as a Supervisory Attorney in the Office of Compliance Inspections and Examinations focusing on Broker-Dealers, Investment Advisors, Self-Regulatory Organizations.
While there, he developed an expertise in emerging risks and technology, including cryptocurrency, blockchain and high frequency trading.
“Joining TRON is the perfect progression in a career driven by a passion for the frontier of financial industry; where technology meets regulation,” Labhart said.
“Blockchain and cryptocurrency are the next step in the evolution of the world’s financial system, and I’m excited about Justin’s passion and long-term view of the benefits and potential impact of this new technology.”
Labhart joins TRON from S&P Global Ratings, where he managed North American compliance and advised on regulatory issues, including the regulatory implications of blockchain, artificial intelligence and cloud computing.
He started his career at the law firm Wilmer Cutler Pickering Hale and Dorr, where he handled high profile internal investigations, SEC enforcement actions and securities litigation.
Labhart is scheduled to speak Jan. 18 at niTROn summit in San Francisco on the future of cryptocurrency and regulation in the US.