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Binance hires former Kraken compliance chief

Binance hires former Kraken compliance chief

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Cryptocurrency exchange Binance has hired former Kraken chief compliance officer Steven Christie as vice president of compliance to lead its global compliance team. The Wall Street Journal reported September 23rd

Binance CEO Changpeng Zhao (CZ) said he plans to hire more compliance experts in the near future.

Christie left his position at Binance’s rival platform Kraken to join Binance as its new head of compliance. Currently, Christie leads a team of 750 people, including a cyber investigation team.

CZ retweeted WSJ article on his personal Twitter account on September 23 and said the exchange was looking to hire more people to work on its compliance team.

Kraken, on the other hand, said it planned to hire a new chief compliance officer on September 21. The exchange said the relevant job announcement will be published in the coming weeks.

Binance is going strong on compliance

The stock market giant announced the launch of a new Global Advisory Board (GAB) on September 22.

Binance said GAB was established to promote responsible crypto regulation by working with lawmakers worldwide. The expertise of the board members varies. It includes respected financial and business leaders and a former US senator.

The GAB team focuses on advising Binance on complex regulatory and political issues related to crypto. Changpeng Zhao described the GAB mission by saying:

“With [board]we will increase our ability to manage regulatory complexity by leveraging the highest level of expertise available in the world.”

About Binance Rules

Zhao has been closely monitoring regulatory news while strengthening Binance’s compliance arm.

The MiCA framework

On September 14, Zhao commented on the regulatory framework proposed by the European’s Market in Crypto Assets (MiCA), describing it as a “fantastic” draft.

According to Zhao, MiCA’s proposal could become a global standard for other regulators. The only concern he raised about the framework was that it rejected the introduction of USD-based stablecoins, which have about 75 percent liquidity in the market.

Philippine Islands

The exchange also plays an active role in the Philippines regarding crypto regulations in the region. It was revealed that Binance was helping the Philippine government prepare crypto regulations.

On August 24, Binance met with the country’s financial regulators and lawmakers to discuss the details of future crypto regulations.

This meeting came a month after the Philippine Securities and Exchange Commission warned residents about “dealings” with Binance.



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