Binance US CEO Steps Down As Crypto Exchange Increases Regulatory Investigation – Exchange Bitcoin News

Former executive controller of currency Brian Brooks has resigned as CEO of Binance US after more than three months. He cited “differences on strategic direction”. Meanwhile, Binance is facing regulatory scrutiny around the world, including in the UK, Malaysia, Japan, the Cayman Islands, Hong Kong, Thailand, Germany and Lithuania.

Binance US CEO resigns

Binance US CEO Brian Brooks announced on Twitter on Friday that he has resigned from Binance. The former executive controller of currency and former chief legal officer of cryptocurrency exchange Coinbase tweeted:

Hello crypto community. Let all of you know that I have resigned as CEO of Binance US. Despite the differences in strategic direction, I wish my former colleagues success.

Brooks joined Binance in early May following his resignation as acting controller of the currency on January 14, before President Joe Biden took office.

In response to Brooks’ announcement, Binance US posted a message on Twitter from Changpeng Zhao, CEO of Binance and Chairman of the Board of Binance US.

“I am confident in the business of Binance.US and our commitment to innovating and serving our customers,” he wrote. “This transition will not affect Binance.US customers in any way as the company continues to provide best-in-class products and services.”

Former financial regulator resigns as CEO of Binance US amid growing global regulatory scrutiny

Zhao further tweeted, “Wishing the former acting controller the best in his future endeavours”, “we hope he will continue to be an integral part of the growth of the crypto industry, advocating for the rules that propel our industry forward.” We do.”

Several regulators around the world including the UK, Malaysia, Japan, Cayman Islands, Hong Kong, Thailand have issued warnings about Binance. Germany, and Lithuania.

Several banks in the UK have also suspended payments to Binance, including Barclays, Santander, NatWest and HSBC.

In a recent interview, the Binance CEO commented on the growing regulatory scrutiny, saying that Binance was looking for CEOs with a strong compliance background. Furthermore, he added that the company wants to be regulated everywhere and wants to be a financial institution. Zhao also tweeted on Friday that Binance is “moving from reactive compliance to proactive compliance,” asking people to “stay up.”

What do you think about Brian Brooks resigning as CEO of Binance US? Let us know in the comments section below.

Tags in this story

Binance CEO, Binance Compliance, Binance Regulation,, Brian Brooks, Changpeng Zhao, Coinbase, Controller of Currency, CZ, OCC, Regulation, Regulatory Investigation

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