TRON hires compliance chief, price goes up over 20% in one day

TRON makes a key hire, as it recruits a former SEC official to become its very first compliance officer…

The cryptocurrency market continues to be uncharacteristically steady over the first week or two of 2019, with slow crawls upwards being the trend thus far. Bitcoin at one point looked like it had found a new floor of $4000, as its value slowly builds again after a hostile back two months of 2018. That said, it’s in the midst of a difficult morning, that saw its price drop again.

One crypto that’s having a better time of it at the moment though is TRON. The high profile currency has hit the news again over the past day, with the news that the company behind it has hired its first chief compliance officer. David Labhart, who previously worked for the US Securities and Exchange Commission, is taking on the role, and will also be TRON’s co-general counsel going forward.

This suggests that TRON is taking a notable step forward when it comes to compliance, and working with regulators. And it was news that the market clearly wanted to hear. Over the past 24 hours, TRON’s price at one stage had shot up more than 20%. And whilst it’s settled back down at around 16%, it’s notably outperforming the market, and sits at number five in the CryptoCompare chart based on total volume over the past 24 hours.

TRON has been one of the most active and innovative companies in the crypto space over the last year, with moves such as snapping up BitTorrent. As with regulators expected to close in this year, the company looks better position than most to engage with them.