Binance US Onboards Former Fed Compliance Chief on Its Board
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Binance US has onboarded Martin Grant to its Board of Directors as the cryptocurrency exchange continues to revamp its operations to remain compliant in the US.
Grant comes with expertise in compliance having served as the former Chief Compliance and Ethics Officer at the Federal Reserve Bank of New York. He also has three decades of experience in the regulatory, legal, and compliance fields.
Former Fed Compliance Chief Joins Binance US Board
Grant comes with a stellar professional background in the regulatory and compliance sector. Before joining Binance, he was the Global Head of Regulatory Affairs and Integrity at JST Digital. In this role, he ensured the company complied with regulatory frameworks.
At the New York Federal Reserve, Grant held the role of Chief Compliance and Ethics Officer. He held this position for more than 17 years. His tenure at the helm of banking in New York shows that he knows regulatory frameworks and enforcement.
The interim CEO of Binance US, Norman Reed, said the appointment of an executive who has a high command in the regulatory field and compliance signaled that the business remained strong. Reed also noted that Binance US was committed to achieving high standards of integrity and compliance.
“We look forward to benefiting from his expertise and counsel as we continue to navigate the current regulatory environment and position Binance.US for long-term growth and success,” Reed said.
While commenting on the appointment, Grant noted that the American crypto space was at an inflection point. He noted that while serving on the board of Binance US, he will work to “guide the future of one of the country’s most influential and customer-centric crypto platforms.”
Besides having a remarkable professional background, Grant also holds stellar academic qualifications. He has a bachelor’s degree in Politics from Princeton University. He is also a Juris Doctor from the Harvard Law School. Grant is also the Chair of the Global Business Conduct Council Conference Board.
US Seeks a Three-Year Prison Sentence for Binance Founder
Recently, US prosecutors proposed that Binance founder and former CEO, Changpeng Zhao, serve a three-year prison sentence. Zhao pled guilty to violating laws against money laundering, and he has been awaiting a decision on the matter by the US government.
According to the prosecutors, Zhao should receive a sentence that is twice the maximum 18 months recommended under federal law for his willful violation of anti-money laundering laws. The prosecutors also say the sentence will send a message that the right choice was to always comply with the law.
Zhao is expected to be sentenced on April 30 by US District Judge Richard Jones. Zhao stepped down as Binance CEO last year after pleading guilty to evading anti-money laundering guidelines.
