South Korean cryptocurrency exchange Bithumb announced on Monday it has appointed Back Young Heo as its new CEO. According to Bithumb, Heo joined Bithumb in 2017 as the head of compliance and prior to Bithumb, worked in traditional finance for 14 years at Citibank, CitiCapital, ING Bank and ING Securities. He has focused on upgrading the company’s Anti-Money Laundering (AML) system and KYC policy to be in-line with standards found in traditional finance.
Speaking about his appointment, Heo stated:
“With the upcoming regulation coming into effect in 2021, management has been preparing well in advance to be fully compliant. In addition, we are relentless at investing in the security of our customers’ assets and ensuring a seamless service.”
Bithumb added along with Heo’s appointment, it will continue to enhance its’ AML policy and internal controls. The platform is also preparing to be fully compliant with the recently passed financial regulation going into effect in March 2021.
Bithumb is a digital asset exchange that was launched to meet the “diverse needs” of users from around the world. The platform uses deep resources and technology to provide a range of services, including digital asset exchange, digital asset issuance, blockchain project incubation, and decentralized financing.