Reserve

Bank

United

United States-based cryptocurrency exchange Binance.US announced that a former chief compliance and ethics officer from the Federal Reserve Bank of New York has joined its board of directors.
In an April 16 blog post, Binance.US <a href="https://blog.binance.us/martin-grant-joins-board/" target="_blank" rel="noopener noreferrer nofollow">said</a> former NY Fed chief Martin Grant would be bringing his “regulatory, legal, and compliance” experience to the crypto exchange as one of its newest board members. Grant was the chief compliance and ethics officer at the NY Fed from 2005 to 2022, having joined the bank in 1990.
According to Binance.US Interim CEO Norman Reed, adding Grant would help the exchange “continue to navigate the current regulatory environment “ in the U.S. The former NY Fed chief is also the Global Head of Regulatory Affairs and Integrity at financial services firm JST Digital, adding that the crypto industry in the U.S. was “at an inflection point.”
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/542438f0-28bd-41f0-bab1-5e7a1c3363f9.png">
 <figcaption style="text-align: center;">Source: <a href="https://twitter.com/BinanceUS/status/1780221080948572357" target="_blank" rel="noopener noreferrer nofollow">Binance.US</a>
 </figcaption>
</figure>
The change to Binance.US’ board of directors came roughly two weeks after global exchange Binance — a separate entity — announced it would be <a href="https://cointelegraph.com/news/binance-board-of-directors" rel="noopener noreferrer nofollow">forming a board</a> for the first time. The seven-person board is chaired by Gabriel Abed, the ambassador of Barbados to the United Arab Emirates, where the exchange has some personnel and ties to regulatory authorities.&nbsp;
Related: <a href="https://cointelegraph.com/news/binance-us-sec-lawsuit-choking-business-layoff-revenue" rel="noopener noreferrer nofollow">Binance.US says it’s ‘radioactive’ to banks, SEC dealt ‘near-mortal blow’</a>
Former Binance CEO <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/changpeng-zhao" rel="noopener noreferrer nofollow">Changpeng Zhao</a> chaired the Binance.US board before he <a href="https://cointelegraph.com/news/us-officials-announce-binance-settlement" rel="noopener noreferrer nofollow">resigned in November 2023</a>&nbsp;as part of an agreement with U.S. authorities — a settlement that did not include the U.S. exchange. Zhao stepped down as Binance CEO and pleaded guilty to one felony charge, for which he is <a href="https://cointelegraph.com/news/changpeng-zhao-sentencing-binance" rel="noopener noreferrer nofollow">scheduled to be sentenced</a> on April 30.
Binance, Binance.US and Zhao still <a href="https://cointelegraph.com/news/sec-sues-binance-in-us-district-court-for-unregistered-securities-operations" rel="noopener noreferrer nofollow">face a civil lawsuit</a> initially filed by the U.S. Securities and Exchange Commission in June 2023 for allegedly offering unregistered securities. The case is one of many enforcement actions the regulator is pursuing against crypto firms with operations in the country, including Coinbase and Ripple.
Magazine: <a href="https://cointelegraph.com/magazine/seal-911-team-white-hat-forms-fight-crypto-hacks-real-time/" rel="noopener noreferrer nofollow">‘SEAL 911’ team of white hats formed to fight crypto hacks in real time</a>

Former NY Fed chief joins Binance.US board

Cointelegraph

Weitere Artikel, die am 16. Apr. 2024 veröffentlicht wurden

Nansen: “As Bitcoin Corrected, Investors Turned to Ethereum and These ETH-Based Altcoins!” Money ...

XRP Takes Impact as Ripple, SEC Enter Final Pre-trial Conference Today

Unveiling Aurora's Forwarder: Streamlining Token Transfers with Bridge Abstraction (16 Apr)

Fetch.ai (FET) vs SingularityNET (AGIX): Who Will Dominate the AI Crypto Space? Key Insights and ...

OKX Has Launched Its Ethereum Layer-2 Network In Challenge To Coinbase’s Base

Massive Profits Incoming On $ROE Presale As Investors Swarm In From DOGE And SHIB Communities

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!