Steve Christie, beforehand the Senior Vice President of Compliance at Binance, has rejoined the cryptocurrency trade within the capability of Deputy Chief Compliance Officer (DCCO).
In the meantime, this transfer comes within the wake of the regulatory challenges Binance has lately confronted, together with a considerable settlement of $4.3 billion with United States regulators over alleged penalties.
Steve Christie Returns to Binance
Christie expressed satisfaction with how Binance addressed the regulatory challenges from the USA Securities and Alternate Fee (SEC) and the US Division of Justice (DoJ).
“I’m impressed by what Binance has achieved on the compliance entrance since I stepped away momentarily.”
Based on the assertion, Christie and Binance’s Chief Compliance Officer, Noah Perlman, will collaborate to additional strengthen its international compliance program.
Nonetheless, Christie and Perlman may also bolster new alternatives for Binance to keep up a management function because the trade evolves.
Statista’s latest information highlights Binance because the frontrunner in 24-hour buying and selling quantity amongst international cryptocurrency exchanges. As of January 9, Binance recorded a buying and selling quantity of 18.22 billion.
Learn extra: High 7 Binance.US Options That Assist USD Withdrawals
Binance’s Latest Regulatory Troubles
In December 2023, BeInCrypto reported the courtroom declared that Changpeng “CZ” Zhao and Binance allegedly violated the Commodity Alternate Act and CFTC rules.
This resulted in a $150 million civil financial penalty towards Zhao personally.
Learn extra: High 7 Binance Card Options Obtainable in Europe
In November 2023, Binance and CZ agreed to settle with the US Division of Justice for a $4.3 billion penalty.
The deal included a $3.4 billion penalty from the US Treasury’s Monetary Crimes Enforcement Community. Moreover, one other $968 million from the Workplace of International Belongings Management.
Nonetheless, its lawsuit towards the US Securities and Alternate Fee (SEC) continues to be ongoing.
The SEC initiated authorized motion towards Binance in June 2023, accusing Binance Holdings Ltd., its U.S. subsidiary BAM Buying and selling Providers Inc., and the corporate’s founder, Changpeng Zhao, of a number of violations.
On Jan. 19, Binance requested to the courtroom that the SEC lawsuit be dismissed.
Extra lately, CZ was denied his journey request again to the United Arab Emirates. He should keep within the US till his sentencing date later this month.
In adherence to the Belief Undertaking pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed data. Nonetheless, readers are suggested to confirm details independently and seek the advice of with knowledgeable earlier than making any choices primarily based on this content material. Please notice that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.