Binance.US Appoints New Chief Compliance Officer
Binance.US, the American branch of the world’s largest cryptocurrency exchange, has announced the appointment of Lesley O’Neill as its new chief compliance officer. O’Neill previously served as the chief compliance officer at Prove Identity, a digital identity verification platform catering to banks, financial services firms, and e-commerce merchants.
As the chief compliance officer at Binance.US, O’Neill will be responsible for overseeing the company’s compliance efforts, including its know your customer (KYC), anti-money laundering (AML), and sanctions programs.
Lesley O’Neill Replaces Tammy Weinrib
O’Neill has joined Binance.US to replace Tammy Weinrib, the previous compliance chief. Weinrib departed Binance.US in November. In that same month, Binance and its founder Changpeng “CZ” Zhao pleaded guilty to anti-money laundering and sanctions violations and agreed to pay significant fines. Although Binance.US was not involved in the settlement, it is currently facing an enforcement action by the Securities and Exchange Commission (SEC) for allegedly offering unregistered securities to U.S. investors. The SEC investigation involving Binance and Zhao is ongoing.
O’Neill brings over 15 years of experience in regulatory and privacy compliance, information security, and identity verification to her new role at Binance.US. She has previously worked at Ernst & Young, Milbank, and Bloomberg.
Binance.US Also Loses Chief Risk Officer
In addition to the changes in its compliance leadership, Binance.US also recently saw its chief risk officer, Sidney Majalya, leave the company in November. It is unclear whether a replacement for this role is being sought.
Hot Take: Binance.US Bolsters Compliance Efforts with New Chief Compliance Officer
Binance.US’s appointment of Lesley O’Neill as its chief compliance officer demonstrates the exchange’s commitment to strengthening its compliance efforts and upholding regulatory standards. With her extensive experience in AML and KYC processes, O’Neill is expected to contribute significantly to maintaining compliance, safety, and security on the platform. However, Binance.US continues to face challenges as it navigates an ongoing enforcement action by the SEC related to unregistered securities offerings. The departure of the chief risk officer adds to the leadership changes within the company, raising questions about its stability and future direction.
By
By
By
By