Noble Bank’s Former Chief Compliance Officer Welcomed to Blockchain For Legal Team
Blockchain is a wallet provider for cryptocurrency, and they’ve been making some changes to their team members lately. The most recent addition is that of Ben Melnicki, who recently worked as the chief compliance officer for Noble Bank.
At Blockchain, he’ll be working as the global regulatory counsel at the firm, joining forces with president and chief legal officer for Blockchain Marco Santori. Together, they will be advocating for a more passive approach to cryptocurrency throughout the various jurisdictions in the world.
Join us in welcoming Ben Melnicki, formerly Noble Bank’s chief compliance officer, to the team today. Our new position of global regulatory counsel will complement our legal team as we continue to find creative solutions for cryptocurrency regulation and adoption ⚖️ https://t.co/icXCI0pVpF
— Blockchain (@blockchain) October 11, 2018
Noble Bank has been a major subject of interest in the media lately for multiple legal issues with Bitfinex, auditing by the Puerto Rico central bank, and the decision to sell. Melnicki hasn’t been directly tied in with any of these issues, but the decision to move over to Blockchain is a quick and positive way to get off the sinking ship.
Along with his brief 10 months at Noble Bank, he’s worked in compliance with Bank of America and Cantor Fitzgerald as well, giving him over 7 years of experience in working in this field. With this type of preparation, he should be ready to take on the responsibilities of regulatory measures with Blockchain that will impact the industry on a global scale.
Melnicki told CoinDesk, “I'll be working closely with Marco Santori … on behalf of our organization, our clients and the virtual currency ecosystem to shape the future of our ecosystem.”
He seems excited to help grow this part of the crypto industry, supporting individuals that crave the financial freedom that typical trading doesn’t offer. Many of the transactions will involve peer-to-peer interactions, though there are many other benefits that cryptocurrency brings to the table.
Much of Melnicki’s opinion on the current regulatory measures seems to be the outdated approach, even though this topic was only brought to lawmakers’ attention in 2013. Now, since the technology has evolved so far past their starting point, the legislators have a responsibility to learn more about the way that this innovation can bring the world together. Ben Melnicki added,
“The best opportunity to do this is by emphasizing engagement by governments with open, permission-less ledgers. That is the best path to effective new legislation.”
The impression that Melnicki has about regulators seems neither optimistic or pessimistic, as he sees what they are trying to do for blockchain technology. He said,
“My initial impression is regulators are trying to find solutions around ways to rethink businesses and suggest market participants to operate within confines.” He continued, saying, “The primary product right now is a non-custodial wallet, which cuts directly into our mission here at Blockchain to provide a financial future and independence to our customers to ‘be your own bank.' I think that's super exciting, it's an excellent offering in this space.”
Santori has taken on a positive attitude about the inclusion of Melnicki, citing his “unparalleled banking experience” and “an unmatched understanding of how crypto and the financial system can work together to build a better future for all of us.”