Regulated cryptocurrency custody and investment platform Paxos has hired a full-time general counsel, the New York-based company announced Wednesday.

Daniel Burstein started as general counsel and chief compliance officer Monday. He has served as the company's interim outside chief compliance officer for nearly a year. Burstein was simultaneously the senior managing director and head of the institutions practice at Guidepost Solutions, where he worked for more than two years.

“I really got to know the people and got to know the culture and the environment, and [my reason for joining] is a combination of all of those things,” Burstein said. “The subject matter is massively cutting-edge.”

As interim chief compliance officer, Burstein led Paxos' engagement with the New York Department of Financial Services, the company's chief executive officer and co-founder, Chad Cascarilla, said in a blog post Wednesday. Cascarilla added Burstein's efforts ”led to PAX being the first digital asset to ever be approved by a financial regulator.”

In his new role, Burstein will work to ensure that Paxos is compliant with the law, advance company strategy and deal with legal issues related to aspects of the business such as employment and information technology. He'll also oversee both the legal and compliance teams, a total of around 13 employees.

As the general counsel of a crypto custody and investment platform, Burstein will also have the chance to help grow a company in an emerging industry that often lacks regulatory clarity or clear legal guidelines. He said that's part of what makes the role exciting.

“How do you navigate the challenging and evolving laws and regulations in this space, and how do we proceed in a responsible manner?” Burstein said. “Compliance is not exciting to everybody, but … I'm really into it.”

Burstein has held a series of legal roles related to finance. Before joining Guidepost Solutions, he spent nearly four years at the NYDFS, eventually serving as acting chief of staff. Burstein also spent more than eight years at Willkie Farr & Gallagher. He graduated with a law degree from the Georgetown University Law Center.