One of the largest crypto exchanges – Binance, is expanding its legal and compliance team to maintain its position during the regulatory investigation. According to Bloomberg, Gemini Trust’s former Chief Operating Officer Noah Perlman has started as the Chief Compliance Officer for Binance.
Noah Perlman joined Binance after Christmas as he has successfully served nearly two and a half year as a COO in fellow crypto exchange Gemini. Noah Perlman also updated his LinkdIn Profile with “Chief Compliance Officer at Binance.”
Binance is already under regulatory pressure. Binance is already named as an exchange that processed about $346 million in bitcoin for the controversial crypto currency exchange Bitzlato.
Additionally, NYDFS ordered Poxos to stop Minting new BUSD tokens. Meanwhile, crypto trades aggressively resettle Poxos’ BUSD tokens to other large stablecoins USDT.
Also Read: BUSD depegs after NYDFS Orders Paxos to Stop Issuing Tokens
Binance founder and Chairman Changpeng Zhao stated in September 2022 that the exchange wanted to hire “a few hundred more compliance People.” Binance also recruited Steven Christie as exchange’s senior vice president (SVP) of compliance last May 2022, earlier who was the head of compliance in Kraken.
As per CoinMarketCap, Binance maintains its top exchange’s designation by trading volume, which rose nearly 11.89% overnight. However, Binance’s digital coin BNB trades under pressure at $297 at press time.
