The new location for the Bittrex Global headquarters was selected for its regulatory clarity.
CEO Kiran Raj and COO Stephen Stonberg were added to the Bittrex Global family with the launch of the new platform.
Bittrex provides the opportunity for consumers to trade cryptocurrency on their own platform. However, aiming to offer services to a broader audience, they have officially announced the development of Bittrex Global, which will have its headquarters in Liechtenstein. The news release provided to CoinTelegraph states that the roll-out of the new platform is presently planned for the end of October, which will be in Vaduz.
The team of the trading platform decided on Liechtenstein for their headquarters as a result of the impressive regulatory clarity on the subject of blockchain technology and digital currency, despite being a small country.
At Bittrex Global, consumers will be able to enjoy reward programs, private token sales (under EU law), a mobile app for trading, and other new features and products. The platform is planning to register under the Blockchain Act, which is also known as the Transaction Systems Based on the Trustworthy Technologies Act, after the official launch. The Blockchain Act was recently passed this spring, along with policies for Anti-Money Laundering and Know Your Customer requirements. These efforts followed the need for clarity over security token, regarding their storage, transfer and ownership.
Coinciding with the launch of this new platform, there are a few new appointments with Bittrex Global, including the introduction of Kiran Raj as the chief executive officer. The role of chief operating officer has just been filled as well, as Stephen Stonberg takes on this responsibility. Before Raj worked with Bittrex Global, he held a position as a partner with O’Melveny & Myers LLP, a law firm in Los Angeles, and he also served the US Department of Homeland Security as deputy general counsel. Stonberg, on the other hand, has maintained a 25-year career in the financial market entirely.
Following the Blockchain Act, the government passed a bill for investor protection and the fight against money laundering called the Token and VT Service Providers Act. At the time, the government stated that these regulations were necessary in countering the risks involved with the developing token economy, while promoting development and offering clarity in the regulations that govern the industry.