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Binance crypto exchange released a statement on Wednesday regarding the appointment of a former US Treasury Criminal Investigator, Greg Monahan, as its global money laundering reporting officer. It marks yet another attempt of the world’s largest crypto exchange to re-establish itself as a regulated financial company.
Binance Crypto Exchange Hires Greg Monahan
There is no denying the fact that financial watchdogs and market regulators are paying close attention to the crypto industry and businesses related to this industry. As a result of this, several exchanges have faced backlash, criticism, and rules that are challenging for them.
In recent months, it has been seen that the Binance crypto exchange has been facing a lot of difficulties as Britain, Italy, and Hong Kong have claimed that Binance units are not authorized to carry out regulated activities.
The newly appointed money laundering reporting officer said:
“My efforts will be focused on expanding Binance’s international anti-money laundering and investigation programs, as well as strengthening the organization’s relations with regulatory and law enforcement bodies worldwide.”
Last month, the CEO of Binance, Changpeng Zhao or CZ, said that he desires to improve the crypto exchange’s relations with the regulators and is seeking their approval for the establishment of regional headquarters.
Not All Who Were Hired Stayed
The statement released on Wednesday revealed that Binance, one of the leading cryptocurrency exchange platforms, has witnessed incredible growth and has surged its international compliance team and advisory board since the year 2020.
However, it has also been revealed that not all of its recently hired employees have stayed in the firm.
As a matter of fact, the Chief Executive of the United States arm of the crypto exchange Binance, and formerly acting Comptroller of the Currency of the United States, Brian Brooks, gave his resignation earlier this month. He served for only 3 months in the firm.