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U.S. based crypto exchange Kraken has appointed Blockchain.com President Marco Santori as its new chief legal officer (CLO).
Kraken made the announcement on its blog. The company named Santori as part of its growing global team. Santori is known as the “Dean of Digital Currency Lawyers.”
He has a background in crypto law. He is known for litigating, advising and creating new laws in the crypto industry. Aside from serving as Blockchain.com’s president, he is also part of the Cooley LLP and Pillsbury Winthrop team. In addition, Santori is the advisor to the International Monetary Fund, the blockchain ambassador to the State of Delaware and the chairman of the Regulatory Affairs Committee of the Bitcoin Foundation.
Santori is expected to use his experience with regulators, banks, payment service providers, broker-dealers, and several other key industry players to drive the next phase of the company’s growth. When asked what he found appealing about Kraken, the new Kraken CLO said that he was impressed at how the company has managed to accomplish and thrive while maintaining its principles and brand.
When asked about his expectations and goals with his new position at Kraken, Santori said that he would support the brand on its journey skyward.
“I expect to continue my work in creating a regulatory environment that fosters innovation while sanctifying consumer well-being. Internally, I aim to create an environment of ability and success for all things legal – from product innovation to business partnerships and corporate governance. Kraken’s impeccable team has built a rocket ship. I hope to support them on the journey skyward,” Santori said.
When asked what regulators usually struggle when it comes to crypto, Santori shared that most had a hard time in understanding the value proposition of crypto.
“Smart policymaking, efficient enforcement prioritization, and even public messaging points all must flow from a basic understanding of crypto’s value proposition,” Santori said.
“The fundamental challenge isn’t really that regulators don’t understand it; it’s that the industry itself hasn’t yet come to agreement. Digital gold? Digital dollar? Digital oil? Metaphors abound, and no single industry voice has emerged to communicate the holistic vision to regulators. Good regulatory engagement today means balancing these messages with fairness and credibility.”
Meanwhile, Kraken has decided to expand its service in India after the Supreme Court overruled the Reserve Bank of India’s (RBI) crypto ban. The company is excited to recommit its resources and expand its offering to the Asian country.
