- TRON (TRX) has never employed anyone to man this position
- Labhart has reportedly worked in the securities ecosystem for over a decade
- He’s a former Supervisory Attorney for the United States Securities and Exchange Commission (SEC)
TRON (TRX) a leading distributed ledger technology (DLT) project and the creator of the 8th largest cryptocurrency in existence, has hired David Labhart, an expert in all things regulation in the financial industry, to help it to remain on the right side of the law at all times, according to a press release on January 9, 2019.
TRON (TRX) Set to Get More Compliant
At a time when the cryptocurrency market is yet to fully recover from the crash of 2018, with bitcoin-linked firms like ShapeShift still laying off workers, TRON (TRX), the blockchain network led by the highly reputed Justin Sun, keeps firing on all cylinders.
Per sources close to the latest development, TRON, in its bid to remain in the good books of regulators, has engaged the services of David Labhart, seasoned personnel in all things compliance, globally.
With more than a decade of experience under his belt, Labhart is TRON’s first ever head of compliance, and the platform is optimistic he would help them take care of all regulatory issues concerning DLT and financial regulators.
Commenting on the matter, the founder and CEO of TRON, Justin Sun, reiterated that the project remains dedicated to contributing its bit to the development of the global blockchain industry in a legit and responsible way.
“As the cryptospace matters, market participants and regulatory agencies across the globe must trust that TRON has a forward-thinking approach that strictly abides by the relevant laws,” he added.
A Sterling Career; Steady Growth
It’s worth noting that Labhart has spent nearly two decades in the securities industry, rendering diligent services.
In 2007 the official became a General Attorney at the U.S Securities and Exchange Commission (SEC) in Washington, District of Columbia. He also worked as a Supervisory Attorney at the SEC, where he focused on Broker-Dealers, Investment Advisors, Self-Regulatory organizations and more.
Importantly, Labhart who will also act as TRON co-general counsel served the SEC for 9 years before joining S&P Global Ratings.
It’s worth noting that 2018 was quite a significant year for TRON as it achieved several impressive feats.
Last summer, TRON successfully acquired BitTorrent, a peer-to-peer file sharing platform for a whopping $140 million and in December 2018, Blockchain Reporter informed that TRON had launched a $100 million Gaming Fund aimed at revolutionizing blockchain gaming.
At press time, the price of TRX token sits at $0.030836, with a market cap of $2.06 billion.