The cryptocurrency derivatives exchange BitMEX was charged by the US authorities recently. Due to which, they have decided to hire the industry veteran Malcolm Wright. The aim is to make the Chief lead the compliance efforts and focus on crypto risk in future. The announcement was made by the BitMEX Exchange operator100x on welcoming the Malcolm Wright as chief compliance officer for the team. 

Bitmax along with its other associated 100c along with the founders were charges by the federal prosecutors in New York and the U.S. Commodity Futures Trading Commission due to the exchange allegations that had offered the derivatives illegally to be traded to the customers. This surely violated the Bank Secrecy Act. 

About the Compliance Chief 

Malcolm Wright is known to have more than 30 years of experience in the anti-money laundering and also the compliance management. He has been hearing the AML Working Group and Advisory Council at the global digital finance. He has also been an active speaking who has spoken on topics like Financial Action Tasks Force's international guidance. This was the guidance for the regulators who have been working as the virtual asset service providers with security token investment. 

On surfing his linked Profile, more interesting details came out about Wright. He has also been working as an associate fellow for the Financial Crime at the Royal United Services Institute. It is a body that has been working on the crimes that often take place in financial sector. 

With Malcolm Wright joining Bitmax, 100x is hoping to get a good lead for making the group’s compliance efforts in much better and international way. Malcolm Wright shall be reporting to the newly joined interim CEO and COO Vivien Khoo. Previously it was CEO Arthur Hayes who is now replaced by Khoo due to the legal concerns that hit recently on October 1.  

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