#Coinbase Announces CEO for Japan Expansion, SEC Names New #Crypto Leader and OKEx Launching Index Fund

Crypto Corner - June 5, 2018

Coinbase Announces CEO for Japan Expansion, SEC Names New Crypto Leader and OKEx Launching Index Fund

Crypto exchange Coinbase has announced the CEO of their new Japanese office in a blog post following news yesterday of their expansion to Japan. Nao Kitazawa, the former CEO of Money Design, will "take a deliberate approach to...rollout in Japan, which means working hand-in-hand with the Japanese FSA to ensure compliance with local laws at every stage."

The U.S. Securities and Exchange Commission (SEC) has recently named Valerie A. Szczepanik Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation, under Division Director Bill Hinman. In effect Szczepanik, who joined the SEC in 1997, will be in charge of coordinating "efforts across all SEC Divisions and Offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including Initial Coin Offerings and cryptocurrencies." SEC Chairman Jay Clayton commented on why Szczepanik was right for the job:

"With her demonstrated skill, experience, and keen awareness of the importance of fostering innovation while ensuring investor protection, Val is the right person to coordinate our efforts in this dynamic area that has both promise and risk."

Crypto exchange OKEx is launching an index fund, according to a report today on CoinDesk. Known as the OK06 Exchange-Traded Tracker (OK06ETT) "fulfills the majority of your investment needs in digital asset." According to the OKEx website:

Its repertoire includes several representable tokens (BTC, ETH, LTC, BCH, EOS, and OKB), which are all greatly respected by institutional or individual investors and very often regarded as benchmarks in the world of digital asset.

Sam Mowers, Investorideas

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