The Tron Foundation’s regulatory efforts will now be guided by finance industry veteran David Labhart who joined the company as new head of compliance on Wednesday.
The company announced that Labhart would be spearing their efforts to navigate blockchain’s interaction with the financial authorities of the world.
Labhart’s Core Expertise Could Help Tron
Labhart’s career began with law firm Wilmer Cutler Pickering Hale and Dorr.
He handled some high-profile investigations while working there, including litigation related to securities and SEC enforcement actions.
He was most recently working for S&P Global Ratings, where he was managing compliance in North America and advised on regulatory issues, including those related to emerging technologies like cloud computing, artificial intelligence, and blockchain.
On joining Tron, he said:
“Joining TRON is the perfect progression in a career driven by a passion for the frontier of the financial industry; where technology meets regulation. Blockchain and cryptocurrency are the next steps in the evolution of the world’s financial system, and I’m excited about Justin’s passion and long-term view of the benefits and potential impact of this new technology.”
Labhart is also expected to speak at the niTROn summit in San Francisco on January 18. He will focus on the future of cryptos and US regulations.
Tron’s Regulatory Push
Tron is one of the largest cryptocurrencies in the world and intends to work with regulatory agencies and financial authorities across the globe, initiating discussions about blockchain development, peer-to-peer systems, and other technologies.
Justin Sun, founder and CEO of Tron wants to go about this in a responsible way.
He said that the crypto space is maturing and regulatory agencies, as well as investors, must be able to trust that Tron won’t run afoul of regulatory requirements.
He also wants to assure them that Tron has a stable growth trajectory and is a forward-thinking company.
Labhart’s appointment with help the project achieve this utilizing his nearly 15 years of experience in the securities industry and extensive regulatory and legal experience.
Labhart will be serving as Tron co-general counsel as well.
Labhart has spent nine years working for the Securities and Exchange Commission of the US where he worked as a Supervisory Attorney in the Office of Compliance Inspections and Examinations. The office was focused on self-regulatory organizations, investment advisors and broker-dealers.