<div class="coinjournal">
 <ul>
 <li>Changpeng Zhao has reportedly resigned from the Binance.US Board of Directors.</li>
 <li>The former Binance CEO has also relinquished his voting rights in the US affiliate and will not participate in any governance decisions.</li>
 </ul>
 <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.US has announced that Changpeng Zhao, who recently resigned as the CEO of the global crypto exchange <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>, has stepped down as Chairman of the Board of Directors.
 CZ has also transferred his voting rights and will no longer be involved in the US-based crypto platform’s governance, according to a statement posted on X on Tuesday.
 <blockquote>
 “As CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved in our governance,” the company said in the post.
 </blockquote>
 The update by the <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.US team also pointed out that while it may share the <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> brand and technology stack with the global company that agreed a $4.3 billion settlement with the US authorities, that’s as far as it goes.
 <blockquote>
 “<a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.US is not a party to the settlements announced last week, nor do we have any outstanding enforcement matters with the DOJ, FinCEN, OFAC, or CFTC.”
 </blockquote>
 According to the statement, <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.US is “fully operational” and will continue to serve its customers, offering the same products and services they did before the recent developments.
 <h2 id="span-style-font-weight-400-sec-sued-binance-and-binance-us-span">SEC sued Binance and Binance.US</h2>
 The US Securities and Exchange Commission (SEC) sued Binance, founder Changpeng Zhao and its US affiliate Binance.US in June.
 SEC’s charges include allegations that <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> operates unregistered exchanges, broker-dealers and clearing agencies. The world’s largest cryptocurrency exchange by trading volume also misrepresented trading controls to let high-value US customers trade on the <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.com platform.
 The regulator also alleged the crypto platforms offered and sold unregistered securities.&nbsp;
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/changpeng-zhao-resigns-from-binance-us-board-tbt71964.html">https://thebittimes.com/changpeng-zhao-resigns-from-binance-us-board-tbt71964.html</a>

Changpeng Zhao resigns from Binance.US board

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