Portfolio company Sigma Ratings' CEO Stuart Jones quoted by WSJ in article making case for private sector's role in shaping new cryptocurrency and other fintech regulations.
Financial technology companies are snapping up former government officials as they seek to navigate the still-developing patchwork of regulations governing cryptocurrency and other financial technology. A handful of recent high-profile hires could signal a stronger role being played by the private sector in the evolution of those rules. Since standard-setting can be a push-and-pull process between the public and private sectors, having people in the private sector who have worked at Treasury and care deeply about counter-illicit-finance can be useful, said Stuart Jones Jr., who served as a Treasury financial attaché at U.S. embassies in Afghanistan and the Gulf from 2008-2013. “When you have people in the private sector that understand the way that the public sector thinks and why they think what they think, the chances of success, and getting to resolution and getting to a place where you can really move things forward, the odds are probably higher,” said Mr. Jones, who founded Sigma Ratings Inc. in 2017, a New York-based company that screens and gives risk ratings for counter parties.