The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cry

Crypto exchange Binance hires former US Treasury criminal investigator

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2021-08-18 11:30:08

The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. REUTERS/Darrin Zammit Lupi/File Photo

HONG KONG, Aug 18 (Reuters) - Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world's largest crypto exchanges to reinvent itself as a regulated financial firm.

Governments and financial watchdogs are paying closer attention to the cryptocurrency industry, often putting in place rules that pose a challenge for exchanges like Binance that have thrived in a mostly unregulated environment.

In recent months, Britain, Italy and Hong Kong have said Binance units are not authorised to carry out regulated activity in their markets, while Malaysia's financial regulator reprimanded he exchange for operating illegally in the country. Bloomberg also reported earlier this year Binance was under investigation by the U.S. Justice Department and Internal Revenue Service. read more

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