Steve Christie Returns as Binance Deputy CCO – CryptoMode

Binance has made Steve Christie, who previously served as Senior Vice President of Compliance, the Deputy Chief Compliance Officer (DCCO) to show that the company still follows the rules.

The announcement comes when regulators are still looking closely at the exchange, which is trying to grow worldwide.

Strengthening Binance’s Compliance Framework and Global Commitment

Christie’s main job in his new position will be to improve Binance‘s compliance system by making it easier for regulators, industry leaders, and other stakeholders to work together. He returned after a short break to take care of personal issues and spend time with his family.

Christie will work closely with Noah Perlman, Binance’s Chief Compliance Officer. He takes over from Kristen Hecht, the former Deputy Chief Compliance and Global Money Laundering Reporting Officer. According to Perlman, Christie is a skilled person, and he emphasized Christie’s important role in the growth and development of the compliance team during his former employment at the company.

Perlman talked about how the compliance field always changes and how Christie’s knowledge has helped Binance deal with new problems and adjustments. Christie’s return is expected to strengthen Binance’s dedication to regulatory compliance by following the rules into a business advantage and a source of long-term growth for the industry.

Binance’s Global Expansion and Recent Regulatory Challenges

Recently, Binance and Gulf Innova, a subsidiary of Gulf Energy Development, revealed Binance Thailand, their joint venture cryptocurrency exchange. 

Binance Thailand – or “Binance TH” – helps people buy and sell digital assets using Thai baht. It works with local banks and has partnered with Binance Kazakhstan to offer trade services. The SEC in Thailand is in charge of all activities.

This development comes after recent challenges with regulators for Binance.US and its parent company worldwide. The Securities and Exchange Commission (SEC) started an enforcement case in June, saying that securities that had not been registered were being sold. 

Zhao, the founder of Binance, named a suspect, quit as CEO in November, admitted to breaking the law against money laundering, and agreed to pay a $50 million fine. The company settled with several government agencies and paid a huge $4.3 billion in fines. 

The recent settlement with the U.S. Department of Justice (DOJ) is good for CZ and the company. It could mean the start of a new era in Binance’s global activities.

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