Richard

Steve

<ul class="news-points"> 
 <li><strong>Binance’s compliance budget is now $213 million, up from $158 million last year.</strong></li> 
 <li><strong>The surge mirrors efforts to fortify its regulatory standing amid mounting scrutiny.</strong></li> 
 <li><strong>Binance is bringing back Steve Christie, its deputy chief compliance officer.</strong></li> 
</ul> 
<p><a href="https://coinedition.com/binance-exchange-review/" target="_blank" rel="noreferrer noopener">Leading crypto exchange Binance</a> has increased its compliance budget, allocating a staggering $213 million, up from $158 million in the previous year. This development was <a href="https://fortune.com/crypto/2024/02/02/binance-touts-35-hike-in-compliance-budget-as-firm-girds-for-monitor-sentencing-of-ex-ceo-zhao/" target="_blank" rel="noreferrer noopener nofollow">captured</a> in a recent publication on Fortune, as spotlighted by renowned Chinese reporter Colin Wu.</p> 
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   <p lang="en" dir="ltr">Binance says it’s increased year-over-year spending on compliance from $158 million to $213 million, purchasing a raft of new software systems to block and report suspicious transactions. The increased outlay also reflects personnel costs, including Binance’s decision to bring…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1753601850425946376?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">February 3, 2024</a>
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<p>Notably, the surge in Binance’s compliance budget from $158 million to&nbsp; $213 million reflects an approximately 35% increase in spending. The surge mirrors the exchange’s concerted efforts to fortify its regulatory standing amid mounting scrutiny from the U.S.&nbsp;</p> 
<p>CEO Richard Teng emphasized the company’s commitment to fos…</p>
<p>The post <a href="https://coinedition.com/binance-increased-compliance-budget-by-35-amid-regulatory-scrutiny/">Binance Increased Compliance Budget by 35% Amid Regulatory Scrutiny</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Binance Increased Compliance Budget by 35% Amid Regulatory Scrutiny

Coin Edition

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