The cryptocurrency exchange Binance has hired former criminal investigator Greg Monahan to be responsible for combating money laundering.
August 18, 2021, | AtoZ Markets – Binance has hired former Treasury investigator Greg Monahan to strengthen its anti-money laundering compliance. The exchange announced this in a press release. Monahan will be responsible for compliance with international anti-money laundering (AML) requirements.
Prior to joining Binance, Monahan spent 30 years investigating tax crimes as an employee of the US Treasury.
“I will focus on expanding Binance’s international anti-money laundering programs […], as well as strengthening the organization’s relationship with regulatory and law enforcement agencies around the world,” Monahan said.
Shortly before this, the firm announced the departure of the former head of the Office of the Comptroller of the US Currency Circulation Brian Brooks from the post of CEO of the US division of Binance.
Meanwhile, Bloomberg reports that Binance is also in talks with several persons at once for the position of the head of the Asian division of the exchange. At the time of writing, Binance has contacted Richard Teng, ex-director of regulatory affairs at the Singapore Exchange.
Binance staffing comes amid pressure from international regulators on Binance and exchange-affiliated structures. As a result, Binance exchange has already begun to curtail some of its services in Europe.
For example, at the end of July, the exchange decided to restrict access to the futures and derivatives market for users of the countries of Germany, Italy, and the Netherlands. Binance also cut leverage and curtailed margin trading in euros and other currencies.
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