Justin Sun's TRON Brings On Former SEC Attorney as Its First Head of Compliance

Photo: TRON Foundation / Medium

The beginning of 2019 is rather busy for blockchain platform Tron and it has some interesting news to share with the crypto community.

First Chief Compliance Officer

According to the information revealed, the company has chosen a person to join the team as its first chief compliance officer. David Labhart who is a former United States Securities and Exchange Commission (SEC) supervisory attorney will take this position and will help Tron build powerful and effective interaction with the financial authorities.

It is also known that Labhart will also act as the company’s co-general counsel. He has impressive working experience with legal and regulatory issues as he has spent nearly 15 years deeply involved in the securities industry.

“Joining TRON is the perfect progression in a career driven by a passion for the frontier of the financial industry; where technology meets regulation,” said Labhard about his new position.

As it has been sated by Justin Sun, founder and CEO of Tron, their aim is to establish communication with regulatory agencies and other financial authorities and to continue their work on developing blockchain in a responsible and absolutely legal way.

Tron’s Way

Tron with its native token has been actively growing and developing over the previous years. This blockchain platform for decentralized applications was designed as an alternative to Ethereum.

In December, Tron made the headlines having welcomed its one-millionth user just 6 months later after the launch. In comparison, it took Ethereum three times longer to get its one-millionth users.

As for TRX, having reached $0.0306, it has shown amazing results this week. On Wednesday, a 53% 7-day change was recorded.  At the press time, it is traded for $0.0291 with a market cap of $1 940 634 234.

Justin Sun and Vitalik Buterin

The history of relations between Sun and Buterin is rather interesting to follow. A new chapter has started when Buterin commented Charlie Lee’s Twitter post but it has taken a new direction when Sun also left a comment in the same threat.

There was a discussion of the categories of people in accordance with their stance towards cryptos and their position. The list of options included Bitcoin Extremist, Bitcoin Maximalist, Altcoin Maximalist, and Nocoiner. Vitalik made a comment saying that he shares the similar point of view as Lee has and asked him about moving to proof of stake.

This comment attracted Sun’s attention who welcomed Buterin to proof of stake family. Let us remind that last year Tron shifted from Proof-of-Work mechanism to Delegated Proof-of-Stake believing that this system could offer to the members of the community more power in the network.

As for Ethereum, their PoS protocol that will shift it from Proof-of-Work algorithm to a Proof-of-Stake algorithm is reported to be launched only this year.

niTRON Summit 2019

At the same time, Tron is actively preparing for niTRON Summit 2019 that will take place on January 17-18, 2019 in San Francisco, United States. The main idea of the event is to continue fostering innovation within the blockchain industry and to tell the audience what is happening in this space right now.

Industry experts, regulators, and entrepreneurs will come together to discuss new opportunities for blockchain and to establish valuable business contacts that may become a ground for new cutting-edge projects.

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