itBit suits up for regulators with chief compliance officer

[SINGAPORE] With the authorities looking up bitcoin's skirt, Singapore-based bitcoin exchange itBit has brought more suits on board to help it toe the regulatory line.

Yesterday, the exchange announced the appointment of its very first chief compliance officer (CCO), ex-PayPal executive Erik Wilgenhof Plante, who joined itBit last month.

At PayPal, Mr Wilgenhof Plante oversaw compliance for the South-east Asian region and before that, also focused on areas of compliance at DZ Privatbank, Clariden Leu, Commerzbank and ABN AMRO.