UK’s ex-chancellor Philip Hammond joins crypto start-up Copper

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Former British Finance Minister Sir Philip Hammond is a British group specializing in cryptocurrency storage and trading as an advisor to become one of the most prominent politicians in the fast-growing digital asset industry. Joined Copper.

Launched in 2018, Copper serves institutional investors, from digital currency asset managers to hedge funds and family offices. The company states that it processed over $ 50 billion in transactions each month on behalf of approximately 400 clients.

During his tenure as Prime Minister from 2016 to 2019, Hammond defended the UK’s fintech sector and called for improved access to capital to support start-ups. expansion..

He said in a statement: [Copper’s digital asset investment] Technology that will revolutionize the way financial services are delivered. ”

Some cryptocurrency companies have criticized the UK government and regulators for curbing innovation with slow and tedious rulemaking.

Copper’s CEO, Dmitry Tokarev, said the company is keen to grow “within a regulatory framework that enables it to prosper globally from its London headquarters.”

In June, the company received an investment from a fund manager Alan Howard, Donated $ 12.5 million to the company’s $ 75 million funding round.

It is registered with the Financial Conduct Authority under the temporary regime of regulatory agencies, and while Watchdog is reviewing its policy to tackle money laundering and terrorist financing, the UK cryptocurrency Storage and trading companies can continue to operate.

Cryptographic company has Accelerate well-known recruitment Financial and technology sector figures for this year.Former Chairman of the US Securities and Exchange Commission Jay Clayton In August, I joined the New York-based cryptocurrency custodian Fireblocks as an advisor.

Hammond Quit politics Prior to the December 2019 general election, after the withdrawal of Prime Minister Boris Johnson and the Conservative Party over Brexit.

British lobbying regulators said earlier this year that Hammond was investigating whether he should be registered as a lobbyist when he contacted the Treasury’s top executives. Promote software devised by OakNorth, The bank he advises.

Last month, the Consultant Lobbyist Registration Authority said it accepted Hammond’s claim that Hammond’s approach was within the exemption of the rule, he said. Cleared Violation of lobbying rules

UK’s ex-chancellor Philip Hammond joins crypto start-up Copper Source link UK’s ex-chancellor Philip Hammond joins crypto start-up Copper

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