Blockchain platform Tron has hired a former SEC attorney as its first Chief Compliance Officer. The company announced this to Cointelegraph in a press release on Jan. 9.
David Labhart, who previously served as an attorney for the US regulatory agency, will also serve as the company’s co-general counsel.
Tron, along with its associated TRX token, has built a significant presence over the past year, in part due to the continued and sometimes controversial promotional efforts revolving around CEO Justin Sun.
Tron was designed to offer Ethereum an alternative platform for decentralized applications (DApps) and celebrated its one millionth user account last month.
According to CoinMarketCap data, TRX is up 6.4 percent in the past 24 hours. This makes TRX the best daily performance among the top 20 cryptocurrencies in terms of market capitalization.
The advancement of regulatory compliance obligations remains an issue for cryptocurrency companies serving both the United States and most other major markets. As Cointelegraph reported, some companies like Crypto Exchange Bittrex have chosen to split up their operations to separate US users bound by different rules.