ITBIT Hires First Chief Compliance Officer for Digital Currency

The digital currency exchange hires its first Chief Compliance Officer from PayPal and new Director to focus on U.S. operations.

Digital currency exchange itBit announced that there would be two new additions to its team, including its first Chief Compliance Officer, Erik Wilgenhof Plante, according to a press release. Plante will lead efforts to comply with regulations and engage with governments. Also joining the company is Robert "Bobby" Cho, a Director focusing on U.S. operations.

"At itBit, regulatory compliance is our number one priority and we pride ourselves on having the highest standards in the industry," itBit CEO and co-founder Rich Teo said. "We welcome Erik's expertise and leadership in compliance as we continue to work with regulators to help develop and cooperate with policies that serve and protect consumers and businesses."

Wilgenhof Plante joins itBit from PayPal, where he oversaw all compliance matters for Southeast Asia. Since Plante has 15 years experience in the financial industry.

"Virtual currencies like Bitcoin offer tremendous possibilities by empowering people to transfer money very quickly at very low cost. For this innovation to gain widespread adoption, trust is paramount," Erik Wilgenhof Plante, Chief Compliance Officer at itBit said. "itBit was created with compliance, security and customer experience at its core. With this long-term vision, we believe that we will be able to build the trust needed to be successful with both institutional and retail investors.”

Bobby Cho will join the company as Director in New York. Cho will focus on the business development and new initiatives at itBit.

Prior to joining itBit, Cho spent six years at SecondMarket trading Bitcoin and other illiquid financial products and securities.

"Coming from a traditional Wall Street environment, I see the huge opportunity for a credible, regulated Bitcoin exchange to make a significant impact on the growth of the Bitcoin ecosystem," Cho said. "I am excited to join the itBit team to seize this opportunity and continue to bring trust and transparency to the market."


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