Binance hires a former FBI agent to track illegal transactions
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Binance, the world’s largest cryptocurrency exchange, has hired former FBI special agent BJ Kahn as head of the company’s investigations department. The Wall Street Journal. He will work for the US division of the exchange and will be responsible for finding and tracking suspicious transactions passing through Binance, as well as working closely with US law enforcement and regulators.
BJ Kahn was one of the most famous FBI special agents and led several high-profile insider trading cases in the United States. In particular, it was Kahn who arrested Bernie Madoff (the founder of the largest pyramid scheme in US history) in 2008 and Raj Rajaratnam, founder of the Galleon Group hedge fund in 2009.
According to the WSJ, Binance US has expanded the staff responsible for working with regulators by 145% since the beginning of the year. As a result, now more than 20% of the company’s employees work in the field of law, compliance and risk management.
This year, the US authorities initiated two investigations into the activities of Binance. In February, the US Securities and Exchange Commission (SEC) decided to explore the links between the US division of Binance and two brokerage firms serving the cryptocurrency exchange. And in June the regulator interested release of the exchange’s own token five years ago. The SEC believes that Binance violated procedure and effectively issued securities illegally.
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