One of the most popular crypto exchanges, FTX US, has revealed that it has applied for a trust charter with the New York Department of Financial Services (NYDFS).
The American affiliate of crypto exchange FTX issued a press release which said that the firm had applied to form a limited purpose trust company with New York’s financial services regulator in order to offer its products and services to local users.
Pending regulatory review and approval, the licensed trust is planned to be run by ex-Fidelity Investments executive Marissa MacDonald, who will be filling in the position of chief compliance officer.
“Marissa has spent her career leading and building best-in-class compliance programs while working alongside regulators. Her experience working in both traditional financial services and digital assets will make her invaluable to our efforts,” FTX US president Brett Harrison said.
Also Read: FTX Worth $32 Billion Valuation Despite Bear Market Concerns
Marissa, Chief Compliance Officer at FTX Trust, said, “After a rewarding tenure at Fidelity, I’m excited to dive deeper into the world of digital assets with one of the most regulatory forward and trusted exchanges in the space. The FTX team’s continued commitment to being proactive when it comes to both compliance and establishing clear regulatory frameworks is exciting and I’m looking forward to leveraging my expertise to help them achieve their ambitious goals.”
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