Determined to defend itself against the hostility of regulators in several regions of the world, the Binance crypto platform has started looking for a new political leader for its European operations.
According to the job posting, the new employee will be expected to “develop and write new policies, standards, guidelines and procedures for the company,” or “support related development, production, guidance and frameworks.” to EU compliance policy”.
Binance gears up to take on regulators in Europe
So this is definitely a compliance and regulatory-focused position, just like Associate Director of Government Affairs in Spain and Director of Compliance in Thailand advertised simultaneously.
It should be noted that these recruitments respond in particular to the fact that the French media recently reported that the company was under investigation by the authorities of the country, after which Binance did indeed confirm that the authorities had visited its offices in June.
Binance is also worried in the UK, with the country’s financial watchdog saying in June that the platform was not allowed to offer crypto trading services in the country. The company also announced its departure from the Netherlands last month after it was unable to obtain a license from the country’s central bank.
It should also not be forgotten that Binance also has problems with the United States SEC, which has filed a lawsuit against Binance and its CEO Changpeng “CZ” Zhao, for violating securities law.
Largely affected by the regulators’ offensive, Binance remains confident for the coming months
In this regard, it should be noted that a Reuters article published on Wednesday revealed that the US subsidiary of Binance has seen its market share drop by more than 20% since the announcement of the lawsuit by the SEC. Specifically, Binance.US’ market share in the United States fell from over 22% in April to around 0.9% as of June 26.
Finally, it should be noted that this does not prevent the CEO of Binance from being optimistic for the prospects of his company, as he said on Tuesday that it was preparing for an increase in trading volume over the next six to ten years. next eight months.
During a question-and-answer session on Twitter Spaces, CZ indeed indicated that Binance was making “a lot of preparations” to deal with the increase in activity.
The Binance boss also attributed the recent rally in cryptos to several factors, including new demands for ETFs on spot bitcoin and the next bitcoin halving which is expected to take place in April or May 2024.
This article is originally published on cryptonaute.fr