Flowdesk Hires Former NYSE Counsel to Strengthen U.S. Presence

• Flowdesk hires former NYSE counsel James Morgan to enhance its U.S. market presence and regulatory compliance.
• Flowdesk’s strategic move aligns with crypto firms adding traditional finance veterans to boost mainstream adoption.
• The 2024 U.S. presidential election could significantly impact crypto regulations, influencing Flowdesk’s future growth.

Eleanor Terrett recently noted on his X account that, Flowdesk, a French crypto firm, has appointed James Morgan, a seasoned securities lawyer and former New York Stock Exchange (NYSE) counsel, to its executive team.

The firm aims to position itself as an institutional player in the U.S. crypto market. This appointment aligns with the broader industry trend of crypto firms integrating veterans from traditional finance (TradFi) into their leadership teams to enhance mainstream adoption and regulatory compliance.

CEO Guilhem Chaumont highlighted the importance of the U.S. market and the need for a strong regulatory strategy. He stated that the U.S. is a key market and developing a solid regulatory approach is crucial. By adding James Morgan, who has nearly 10 years of regulatory crypto experience, Flowdesk aims to be well-prepared to succeed and grow its business in the U.S., according to Chaumont’s comments to FOX Business.

Since opening its U.S. office a year ago, Flowdesk has remained relatively low-profile, despite a notable Series B funding round in January that included investments from Ripple. Flowdesk has also acted as a liquidity provider for Grayscale’s Bitcoin and Ethereum ETFs, launched in collaboration with financial giants BlackRock and Fidelity.

Flowdesk’s appointment of TradFi veterans like Morgan and Reed Werbitt, the firm’s U.S. CEO since September, reflects the industry’s drive for legitimacy and regulatory clarity. As U.S. regulators, particularly the Securities and Exchange Commission (SEC), intensify their scrutiny of the crypto industry, the demand for legal experts who understand both digital and traditional securities law has surged.

The U.S. regulatory environment for crypto has been challenging. SEC Chief Gary Gensler has led a strict campaign against the crypto sector, citing many violations of securities laws. Meanwhile, the industry argues that current regulations don’t fit the unique aspects of blockchain technology, causing a deadlock.