Ex-PWC and Intuito Compliance Director Is HBUS New CCO

The strategic partner of Huobi in the U.S., HBUS has recently hired a new Chief Compliance Officer (CCO).

According to a press release shared with an online crypto news outlet, the new hire brings in more than 15 years experience in the compliance sector.

Prior her stint in HBUS Megan Monroe-Coleman was the former MTL Compliance Officer of U.S. Software giant Intuit.

She also has seven years experience working in PricewaterhouseCoopers (PwC) where she worked as compliance officer for 5 years.

Monroe-Coleman acknowledges that she would be working in an industry that does not always embrace regulations, but she emphasizes the firm would ensure its operations were safe and secure for crypto trading in a fully compliant manner.

Huobi has been strengthening its position in the international crypto exchange circuit with several partnerships and acquisitions.

Aside from its partnership with HBUS, Huobi has recently bought a majority stake in Japanese FSA-licensed crypto exchange BitTrade, as well as acquiring a controlling stake in Hong Kong exchange publicly–listed Pantronics Holdings last month.

Central Bank Of China Looking For Crypto Professionals

The People’s Bank of China (PBoC) has reportedly opening for positions for cryto-related professionals according to official documents released in the organization’s website.

According to the documents published, they are looking for two engineers for their Digital Money Institute with experience in blockchain and cryptography, security and chip design.

It seems that the bank wants its engineer to develop a secure big data platform and a chip processor that would allow crypto transactions.

The job description of the engineers includes responsibility for digital currency related software systems, encryption technology and security models and R&D in transaction terminal chip.

PBoC is also interested in hiring economic law and finance experts that will be responsible for legal research, analysis of economic mechanisms, risk management, and policy research on legal digital currency.

Currently the Chinese government banned crypto-related activities since 2017 resulting to the closure of all crypto exchanges in the mainland and all ICOs initiatives banned.

However despite the this ban, the Chinese government is actively pursuing blockchain technology development, the underlying technology that powers cryptocurrencies.

Two Sides Of The Story In Senate Committee

Two contrasting views were heard by the members of the US senate in their effort to find out more about cryptocurrencies and blockchain.

The Committee on Banking, Housing and Urban Affairs hosted the two experts who are either a firm believer or non-believer on the said topic.

Representing the believer of blockchain and cryptocurrencies is the director of research at Coin Center, Peter Van Valkenburgh while the non-believer is Nouriel Roubini who is a professor of economics at NYU’s Stern School of Business.

The Committee hearing was chaired by Mike Crapo who stated that it is a continuation of the committee’s exploration of the opportunities and challenges surrounding the cryptocurrency and blockchain ecosystem.

Roubini unsurprisingly has nothing good to say about cryptocurrencies as well as its underlying technology blockchain, calling it nothing more than a glorified spread sheet, which many in the cryptocurrency community pointed out a severe lack of knowledge about the nascent industry.

On the other hand, Valkenburgh focused on three use case areas: identity, internet of things and digital cash, where he believes are most pertinent to blockchain tech with only the latter area coming in direct contradiction with Roubini’s testimony.

Emphasizing that the innovation of Bitcoin was the creation of consensus mechanism.

Coinbase Includes Its First ERC20 Token

U.S. cryptocurrency exchange behemoth Coinbase has recently announced that they are including 0x (ZRX) token in their trading platform.

This marks the first time the San Francisco-based exchange to support an ERC-20 token.

ERC-20 tokens are cryptocurrencies that are based on the Ethereum (ETH) platform.

ERC stands for Ethereum Request for Comment, and 20 is the number assigned to this request.

ERC-20 makes the creation of new tokens extremely easy which is why ETH become popular with crowdfunding companies on Initial Coin Offering (ICOs).

Although the company has publicly revealed the launch of the token in its platform trading will commence when sufficient liquidity is established.

Currently the token is only offered on its professional platform Coinbase Pro with its retail platform Coinbase.com support on a different date.

ZRX trading will be available in most jurisdiction except in New York with available trading pairs of ZRX with USD, EUR and BTC.

Advertisement Reveals Google’s View On Cryptocurrencies

It seems that Google has thrown some shade on cryptocurrencies in general by releasing a new advertisement with popular comedians dressed as Google employees mock crypto mining for wasting electricity and say that virtual currency is not real money.

This joke will not sit well with cryptocurrency enthusiast as most of proponents of the nascent industry view cryptos as liberating and disruptive.

Google has been criticized for profiling users through its search algorithms, shoveling user data to advertisers.

In contrast Bitcoin is viewed as liberating and viewed by its advocates as a decentralized financial innovation, favored by those who believes in a world that is unhinged from corporate and political centers.

The commercial seems to point to Google’s skepticism about cryptocurrencies which is quite surprising as its parent company, Alphabet has been rumored to be eyeing a spot in the cryptocurrency space.

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