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Binance hires former FCA and FINRA regulators

04/22/2022
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Binance continues its efforts to strengthen its leadership, on the one hand by hiring former FCA and FINRA regulators Steven McWhirter and Seth Levy respectively, and on the other hand by considering Paris as its new European headquarters. 

Binance and the hiring of Steven McWhirter from FCA and Seth Levy from FINRA

Binance chooses Paris as its European headquarters to strengthen its presence in the area

The largest crypto-exchange Binance has announced that it has hired Steven McWhirter and Seth Levy, former regulators at the Financial Conduct Authority (FCA) and the Financial Industry Regulatory Authority (FINRA) respectively.

After more than 9 years at the FCA where he developed expertise in UK, EU and other policy areas, Steven McWhirter joins Binance as Director of Global Regulatory Policy to ensure the crypto-exchange meets its regulatory obligations at the highest level. 

At the same time, Seth Levy, after 16 years at FINRA as senior director of trading analysis within the market regulation department, joins Binance as head of market surveillance, with the aim of overseeing and implementing new infrastructure to address the risk associated with asset trading. 

In this regard, Changpeng Zhao or CZ, CEO of Binance said:

“In a dynamic and developing regulatory crypto and blockchain environment, Binance continues to attract world-class experts that believe in the importance of providing a safe and secure platform for users. Steven and Seth joining our global compliance team is not only a huge boost to Binance, but also the broader crypto and blockchain industry, as we continue to lead the sector by working collaboratively with regulators, policymakers, and industry leaders to grow the ecosystem responsibly and sustainably”.

Binance and France, CZ could choose Paris as European headquarters

Following the Paris Blockchain Summit in April, CZ appears to have assessed the potential of the French capital as Binance’s new European headquarters. 

Basically, Binance’s CEO praised France for its “pro-crypto” regulations, while seeking to have Binance registered with French market regulator AMF as a “digital asset service provider” (DASP).

Specifically, CZ said:

“France has some very pro-business, pro-crypto regulations and also just (the) government’s attitude towards this industry … has been phenomenal”.

Other crypto-exchange licenses around the world

Taking a look outside of Europe, Binance appears to have recently won two more licences to operate in the countries of Bahrain and Puerto Rico. 

In the case of Bahrain, Binance was licensed as a crypto service provider directly by the Central Bank of Bahrain (CBB) at the end of March. CZ also recently met with HRH Salman bin Hamad Al Khalifa. 

“Bahrain is adopting crypto in a big way. Honored to meet HRH Salman bin Hamad Al Khalifa”.

Meanwhile, this week, it appears that Binance.US has been licensed as a money provider by the Office of the Commissioner of Financial Institutions in Puerto Rico.  



Source: https://en.cryptonomist.ch/2022/04/22/binance-strengthens-leadership-hires-former-fca-and-finra-regulators/