Omniex Appoints Former SEC and FDIC Execs to Board of Advisors

Institution-oriented crypto trading platform Omniex has expanded its employees with excessive profile consultants, together with former execs of main U.S. monetary regulators, in accordance to a press release Aug. 7.

Omniex has appointed former U.S. Securities and Exchange Commission (SEC) chairman Arthur Levitt and Federal Deposit Insurance Corp (FDIC) chair Sheila Bair as members of the board of advisors.

The cryptocurrency buying and selling agency additionally introduced that Maartje Bus, former head of capital markets at Thomson Reuters, has joined Omniex as director of strategic partnerships, whereas Tom Eidt, former head of KCG’s regulatory affairs was appointed as chief compliance officer and common counsel.

Levitt, who was the twenty-fifth and longest-serving chairman of the SEC from 1993 to 2001, claimed that institutional traders want “purpose-built technology to solve the challenges they face today and equipped to handle the hidden obstacles they’ll encounter tomorrow in this new asset class.”

Levitt presently serves as advisor to a quantity of firms comparable to Mirror, BitPay, Blockchain, PeerIQ and Sofi, beforehand working as senior advisor to Goldman Sachs and The Carlyle Group.

Former FDIC exec Sheila Bair emphasised that the crypto trade is a “revolutionary, global asset class” that’s presently in its infancy. She additionally mentioned that the world is now “on the cusp of regulatory thinking on how to approach and regulate crypto assets.”

“Technology like Omniex is designed to address regulators’ concerns about a lack of robust market infrastructure, and will enable institutional investors to manage risk across a wide range of jurisdictions, liquidity sources and crypto-assets,” Blair acknowledged.

Having served as chair of the U.S. banking regulator from 2006 to 2011, Bair performed a outstanding position within the authorities’s response to the monetary disaster of 2008.

Earlier in June, Bair claimed that, whereas cryptocurrencies like Bitcoin (BTC) could be a method to enhance еxisting financial instruments, she nonetheless argued that Bitcoin “has failed miserably as a method of payment.” The former FDIC chair additional acknowledged that the Federal Reserve wants to “seriously” take into account the relative advantages of issuing its personal digital foreign money.

Omniex is an workplace funding and buying and selling platform for institutional traders. Founded in 2017, the corporate has raised $10 million in seed funding from traders comparable to Digital Currency Group, Sierra Ventures, and British hedge fund billionaire Alan Howard.

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