Crypto Firm B2C2 Makes Former Prosecutor, FBI Agent Legal Chief

Cryptocurrency trading company B2C2 has appointed former FBI agent and federal prosecutor Dean Sovolos as its new general counsel.“B2C2 is a leader in the industry and, as such, effectively navigating the complex legal and policy issues while building important partnerships will be a priority for our legal and regulatory teams,” Sovolos said in a Thursday statement.B2C2, which was founded in 2015, is based in the U.K. with offices in the U.S. and Japan. The company in December 2020 was acquired by Japanese finance company SBI Financial Services, a subsidiary of SBI Holdings Inc.Cryptocurrencies and blockchain technology have faced increasing scrutiny and regulation from agencies like the DOJ and the Securities and Exchange Commission. SEC Chair Gary Gensler has been vocal about his desire for more crypto trading platform oversight and for digital asset exchanges to register with the SEC. That could mean subjecting crypto to securities regulations, which crypto advocates say could slow 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 associate counsel in its New York field office, as well as a special agent and overseas legal attaché, according to the statement.“We’re thrilled to have Dean join B2C2. His distinguished career at the Department of Justice working in parallel with U.S. and foreign partners and regulators will reinforce our ability to raise industry standards as we prepare for regulatory changes ahead,” B2C2 co-CEO Rob Catalanello said in the statement.In July, B2X2 also hired Nicola White as president of B2C2 USA from Citadel Securities.

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