Increasing focus on the cryptocurrency industry has placed new pressure on crypto compliance officers and legal professionals, who worry regulators will hold them personally responsible for issues at their companies.
That’s according to a Monday (Aug. 8) report by the Wall Street Journal, which noted that these professionals face greater personal liability risks while lacking the resources available to people at larger financial firms.
“There is more risk because there is no clear rulebook,” Jeff Horowitz, chief compliance officer at Palo Alto, Calif.-based crypto custodian BitGo Inc., told the Journal.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.