‘Compliance is a journey,’ says Binance CEO amid regulatory scrutiny

‘Compliance is a journey,’ says Binance CEO amid regulatory scrutiny

The crypto industry has massively evolved since Binance’s launch four years ago, but it still needs more regulatory certainty, Binance's CEO said. Amid intensifying concerns over Binance’s global regulatory issues, the company’s CEO and founder Changpeng Zhao has underscored the exchange's commitment to cooperating with regulators.In an open letter on Tuesday, Zhao emphasized that the cryptocurrency industry has massively evolved over the past four years since Binance’s launch, while there is still a lot of regulatory uncertainty around crypto.In response to the growing regulatory....


Related News

Visa, Mastercard Monitor Binance’s Regulatory Compliance as More Regulators S...

Payments giants Visa and Mastercard say they are monitoring Binance’s regulatory compliance developments as more regulators come after the global crypto exchange for operating in their countries without authorization. Visa, Mastercard Monitoring Binance’s Regulatory Troubles Visa and Mastercard have not severed ties with cryptocurrency exchange Binance despite rising regulatory scrutiny. The two payments giants have not blocked Binance and cardholders can still use Visa and Mastercard to deposit funds into their accounts at the exchange. Visa told the Financial Times Friday....

Binance continues push to become regulated crypto exchange with new hire

Amid the weight of regulatory scrutiny, Binance continues to grow its international compliance team for better relations with financial regulators. Crypto exchange giant Binance has hired Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer.According to an announcement issued on Thursday, Binance stated that McGinness will contribute to the company’s push towards better relations with regulatory bodies across the globe.Indeed, McGinness is the latest Binance hire with expertise in regulatory....

Binance.US Teams Up With MoonPay Amid Banking Challenges And SEC Woes

Crypto exchange Binance.US has recently encountered many legal and financial obstacles amid heightened regulatory scrutiny. However, to restore a reliable influx of dollars, the exchange has allied with MoonPay, a payment startup renowned for its partnerships in the non-fungible token (NFT) sector, as reported by Bloomberg.  This strategic collaboration addresses Binance.US’s challenges while injecting a […]

Binance Faces Ongoing Executive Exodus Amidst Regulatory Scrutiny

Binance, one of the world’s largest cryptocurrency exchanges, continues to experience a wave of executive departures as it grapples with regulatory challenges and legal scrutiny in the United States and Europe.  According to a Reuters report, the recent resignation of Mayur Kamat, Binance’s global head of product, adds to the growing list of critical figures […]

Binance Makes Regulatory Compliance Top Priority as the Crypto Exchange Pivot...

Global cryptocurrency exchange Binance has made regulatory compliance its top priority. The exchange is on a hiring spree to “significantly” add to its compliance and legal teams. “We are going through a pivot from a technology innovator into a financial services company, so we need to be fully compliant,” said the CEO of Binance. Binance’s Regulatory Compliance Plans Binance is focusing on regulatory compliance as the exchange pivots from a technology startup into a financial services company, CEO Changpeng Zhao (CZ) explained in an interview with Bloomberg....