Cryptocurrency trading company B2C2 has appointed former FBI agent and federal prosecutor Dean Sovolos as its new general counsel.
“B2C2 is an industry leader and as such, effectively navigating complex legal and policy issues while building important partnerships will be a priority for our legal and regulatory teams,” Sovolos said in a statement Thursday.
B2C2, which was founded in 2015, is headquartered in the UK and has offices in the US and Japan. The company in December 2020 was acquired by the Japanese finance company SBI Financial Services, a subsidiary of SBI Holdings Inc.
Cryptocurrencies and blockchain technology have faced increased scrutiny and regulation from agencies such as the DOJ and the Securities and Exchange Commission. SEC Chairman Gary Gensler has expressed his desire for greater oversight of the crypto trading platform and for digital asset exchanges to be registered with the SEC. That could mean subjecting cryptocurrencies to securities regulations, which crypto advocates say could slow down innovation.
Sovolos was most recently a prosecutor for the United States Attorney’s Office in New York and New Jersey. He has also worked for the Federal Bureau of Investigation as an associate attorney in its New York field office, as well as a special agent and overseas legal attaché, according to the statement.
“We are delighted that Dean is joining B2C2. His distinguished career with the Department of Justice, working in parallel with US and foreign partners and regulators, will reinforce our ability to raise industry standards as we prepare for the regulatory changes to come, ”said B2C2 Co-CEO Rob Catalanello, in the statement.
In July, B2X2 also hired Nicola White as president of Citadel Securities’ B2C2 USA.