Binance Adds Former FATF Officers to Regulatory Strategy Team
Major cryptocurrency exchange Binance on Thursday tapped two former members of the Financial Action Task Force (FATF) for its advisory team, telegraphing its commitment to staunching compliance and fraud concerns.
- Former Executive Secretary Rick McDonell and former head of FATF’s Canadian delegation Josée Nadeau will advise on Binance’s “global compliance and regulatory strategies,” according to a press release.
- The pair will also participate in Binance’s communication with regulatory agencies around the world, according to the company. Earlier this month Binance added a top government liaison in former U.S. Senator Maxwell Baucus.
- Binance has faced past accusations of working to sidestep government oversight and is reportedly under investigation by the U.S. federal commodities regulator to see if U.S. residents traded derivatives on the cryptocurrency exchange in violation of U.S. rules allegations the firm denies.