Former US Treasury Criminal Investigator Hired By Crypto Exchange Binance

• Binance chief executive Changpeng Zhao said last month he wanted to improve relations with regulators, and said the exchange would seek their approval and establish regional headquarters.

Popular Cryptocurrency exchange, Binance has announced on Wednesday the appointment a former US 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.

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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.

“My efforts will be focused on expanding Binance’s international anti-money laundering and investigation programs, as well as strengthening the organization’s relations with regulatory and law enforcement bodies worldwide,” Greg Monahan, the new appointee, said in a statement.

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Binance chief executive Changpeng Zhao said last month he wanted to improve relations with regulators, and said the exchange would seek their approval and establish regional headquarters.

Wednesday’s statement said that Binance has grown its international compliance team and advisory board by 500% since 2020.

But not all of its recent hires have stayed.

Brian Brooks, chief executive of Binance’s US arm, and formerly acting US Comptroller of the Currency resigned earlier this month, just three months after taking up his role.