INX Limited, which operates the first security token IPO cleared by the US regulators, announced on Monday that it has appointed Jonathan Blattmachr as deputy general counsel. According to the press release, Blattmachr will oversee the regulatory strategy of INX and its operating subsidiaries.
Prior to his new role at INX Limited, the executive worked as Virtual Currency Chief and Assistant Deputy Superintendent at the New York State Department of Financial Service (NYDFS) in its Research and Innovation Division. Furthermore, during his tenure at NYDFS, Blattmachr was in charge of checking applications and supervising policy teams for regulated entities which pursue cryptocurrency activities in New York State. “We are excited to have Jon join us and help guide us through the regulatory landscape of digital assets. His experience at NYDFS and in private practice will be critical as we establish ourselves as the preferred global hub for digital assets,” Alan Silbert, CEO of INX Limited North America, commented on the new hiring.
Blattmachr was also in private practice at BakerHostetler LLP and Schulte Roth & Zable LLP before joining NYDFS. “I expect Jon and I will make a formidable team to lead INX through continued expansion of its businesses in a manner that is business forward and compliant with the current and future global regulatory regimes,” Cathy Yoon, INX General Counsel, stated.
Acquisition of Openfinance Securities
The new appointment comes after a critical acquisition completed by the company in June. Finance Magnates reported that INX Limited completed the acquisition of Openfinance Securities, LLC, after receiving the approval from the Financial Industry Regulatory Authority (FINRA). As a result, the owner of blockchain-based platforms now operates Openfinance’s broker-dealer/ATS, including its listings and client base.
The plan of acquiring Openfinance was first announced in October last year, as INX agreed to purchase 100% of Openfinance’s broker-dealer and its alternative trading system (ATS).
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