BitPay, a payment service provider for Bitcoin virtual currency, has named Tim Byun as chief compliance officer.

Byun previously served as Visa's head of global credit settlement risk, leading anti-money laundering programs to maintain Visa's compliance. Before joining Visa, he was an examining manager with the Federal Reserve Bank of San Francisco's Division of Banking Supervision and Regulation for nine years.

“As the bitcoin industry continues to grow, BitPay wants to ensure that our policies and procedures fall in line with various state, federal and international regulations," BitPay executive chairman Tony Gallippi said in a prepared statement.

Other Appointments

In addition to Byun, BitPay has appointed Anjali Kamath as the general counsel and compliance manager. Prior to BitPay, Kamath served as corporate compliance manager at ClearPoint. She also worked at Lindner's Capital Advisors as its chief compliance and legal officer for five years.