British ex-chancellor Philip Hammond joins the crypto start-up Copper
British ex-chancellor Philip Hammond joins the crypto start-up Copper
The former British Chancellor Lord Philip Hammond has come to Copper, a British group that specializes in the custody and trade of cryptocurrencies.
Copper was launched in 2018 and offers services for institutional investors, from asset managers for digital currencies to hedge funds and family offices. The company said that on behalf of around 400 customers, it handled transactions of more than $ 50 billion every month.
During his time as a chancellor between 2016 and 2019, Hammond campaigned for the British Fintech sector and urged to help with better access to capital to help start-ups.
In a statement, he said: "The really exciting chance lies in the application by [Copper’s Digital Asset Investment] Technology to revolutionize the way financial services are provided."
Some crypto companies have criticized the British government and the supervisory authorities to hold innovations back with slow and tedious rules.
dmitry Tokarev, CEO von Copper, said the company endeavors to “grow within a regulatory framework that enables us to be successful from our London headquarters worldwide”.
In June, the company received investments from fund manager Alan Howard, who contributed $ 12.5 million to the company's $ 75 million round.It is registered with the Financial Conduct Authority as part of the temporary regulatory regulatory regulatory authority that enables British crypto-custody and trading companies to maintain their work, while Watchdog checks its guidelines to combat money laundering and terrorist financing.
crypto companies accelerated the attitude of top-class personalities from the finance and technology sector this year. The former chairman of the US stock exchange supervisory authority SEC, Jay Clayton, joined Fireblocks in August as a consultant of the New York crypto crypto.
Hammond left politics before the parliamentary elections in December 2019 after he had disputed with Boris Johnson, the Prime Minister, and the conservative party on Brexit.
The British Lobbying regulatory authority said at the beginning of the year that it would investigate whether Hammond should have registered as a lobbyist when he contacted a high-ranking finance to apply for the software developed by Oaknorth, a bank.
Last month, the Office of the Registrars of Consultant Lobbyists said that Hammond's argument had accepted that his approach would fall with an exception to his rules, and he was acquitted to violate the lobbying rules.
Source: Financial Times