Bybit Appoints Robert MacDonald as Chief Legal & Compliance Officer

Bybit's New Chief Legal & Compliance Officer

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has appointed Robert MacDonald as its new Chief Legal & Compliance Officer. With a remarkable career in both the public sector and traditional finance, Robert aims to bolster Bybit’s commitment to legal integrity and principled compliance.

Robert MacDonald's Expertise

Robert MacDonald brings a wealth of experience in regulatory compliance and combating financial crime. His career began in London as a barrister specializing in financial crime, followed by a significant tenure with the U.K. Ministry of Justice. Over the years, he has worked across continents in traditional finance and banking, including roles at major asset management firms and crypto exchanges.

Leading Bybit's Legal and Compliance Team

In his new role, Robert will oversee Bybit’s legal and compliance team, which is crucial for navigating the evolving regulatory landscape. The team includes legal counsels addressing global legal issues and a compliance function focused on licensing, registration, and adherence to local requirements. A dedicated global compliance team ensures a safe client onboarding process with rigorous compliance controls.

Addressing Regulatory Challenges

Robert identifies the inconsistencies in regulatory frameworks as a primary challenge for the cryptocurrency industry. The lack of uniformity in how cryptocurrencies are classified and regulated creates uncertainties. He highlights the importance of stabilizing stablecoins and ensuring compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.

Bybit's Vision for the Future

Bybit aims to build a company that withstands the test of time, emphasizing a culture of compliance. Robert’s insights into regulatory trends will be invaluable for Bybit’s growth and long-term success. Despite the challenges, Robert is enthusiastic about his new role and the opportunity to impact the industry positively, focusing on sustainable growth and adherence to local regulations.