Huobi Hires Ex-Compliance Head From State Street

Huobi, one of the world's largest crypto exchanges, has appointed Elaine Sun Ye Lin as compliance director.

The former head of compliance for the Chinese branch of State Street will oversee the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term’s global compliance efforts.

“We are happy to welcome Elaine into the Huobi family. Her expertise in compliance and in traditional financial markets will definitely be an asset to the company as we look to ensure our compliance and work with regulatory bodies,” Fu Liting, HR director of Huobi Group, told Coindesk.

Sun has years of experience working in the compliance arena. She headed State Street Bank’s APAC-region alternate investment services team and oversaw its compliance with all governmental frameworks for over six years. Prior to that, she was also the head of compliance at China’s OCBC Bank for almost a similar period.

The Singapore-headquartered exchange is eying to make a global impact leveraging Sun’s expertise in working with government bodies.

Sun is a law graduate and started her career working as a legal counsel for Bao Steel Real Estate before getting an MBA from The University of Hong Kong.

Banking to Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term

Sun was head-hunted by Neil Dundon, director of CryptoRecruit, for this appointment.

Mentioning the current recruitment scenario in the crypto space, Dundon told Coindesk: “CryptoRecruit has noticed a huge increase in the number of people from traditional banks who are extremely receptive when we approach them for potential job opportunities in crypto.”

In the last couple of years, the major crypto exchanges and startups had poached dozens of banking professionals.

“Developers have been moving over from tech firms since last year but to see bankers making the move is reassuring as to where the future of this industry is headed,” he added.