Cryptocurrency Exchange OKX has hired Marcus Fughes as new vice president and head of global government relations, the company announced Wednesday.
Having experienced more than 20 years of experience in a regulated business, Hughes recently took on the role of global head of regulatory strategy at Crypto Exchange Kraken.
Prior to that, he was the managing director of Europe and the international advisor to Coinbase. He is also a venture partner for US venture capital fund Sentinel Global.
The collaborative embrace of crypto and blockchain-based assets around the world means that large players face an evolving complex web of regulations.
In 2024 alone, more than 50 jurisdictions proposed or enacted new crypto regulations, ranging from comprehensive regimes like the European market for crypto assets (MICA) to more fragmented approaches in Asia and the US.
The US is clearly a key focus area of all major exchanges taking into account Donald Trump’s procrypt stance. This means interacting with policymakers in Washington, DC and state-based regulators such as the New York Department of Financial Services (NYDFS).
“Clear and balanced regulations are essential to unlocking the full potential of digital assets, and I am committed to working with lawmakers and policymakers around the world to promote trust and innovation. OKX’s first culture of compliance and global vision will be the ideal platform to promote its mission,” Hughes said in a statement.
Read more: Protocol: OKX slashes native token supply in half
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