Binance to double its regime appeasement team amid tightening regulatory issues

Source: Finbold [UK]

“Cryptocurrency exchange Binance is reacting to increased regulatory scrutiny with plans to expand its international compliance team. In a blog post, CEO Changpeng Zhao said the company seeks to double the compliance team by the end of the year without specifying the number. According to Zhao, Binance’s international compliance team and the advisory board had grown by 500% since last year. … Binance’s regulatory challenges recently escalated after the United Kingdom regulator, the Financial Conduct Authority, [feigned concern] over the safety and security of the exchange. In response, Binance has announced it will not undertake any regulated activities in the UK without the regulator’s approval.” (07/07/21)