Binance appoints ex-IRS agents to strengthen compliance
Major crypto exchange Binance announced on the 30th that it has appointed two former cyber investigators from the US Internal Revenue Service (IRS) to protect the platform and strengthen compliance.
These appointments are part of Binance’s current compliance scheme as it faces scrutiny from regulators across the world.
The new hires are Tigran Gambaryan and Matthew Price, former cyber investigators for the Internal Revenue Service Criminal Investigation (IRS-CI) cybercrime unit.
Both will join Binance’s research team with Gambaryan as the Vice President of Global Information and Research in Binance, and Price will be the Senior Director of Research.
As per Binance statement, Chief Security Officer Jimmy Su and Gambaryan will work closely with law enforcement and regulatory agencies around the world, conducting external and internal investigations to prevent threats and financial losses.
As former cyber investigators, Gambaryan led the investigation into the largest dark site Silk Road and Mt. Gox whereas Price led the investigation of Helix, an illicit bitcoin tumbling service operating on the darknet.
Price commented:
“As a criminal investigator, I quickly learned that the key to success in crypto investigations is working closely with those within both the private and public sectors. I plan to leverage the skills I developed as an investigator to stay one step ahead of emerging threats in the crypto space. ”
Gambaryan said in a statement:
“The constantly evolving crypto industry requires strong cooperation between the industry, law enforcement, and regulators. Our goal is to increase trust in cryptocurrency by establishing Binance as the leading contributor in the fight against human trafficking, ransomware and terrorism financing.”
Binance has received regulatory warnings from financial agencies in several countries, leading it to suspend its services in several European countries, Hong Kong, Singapore, Italy, Japan, and more.
In addition to mandating KYC registration for existing and new users, Binance will also set up its headquarters to operate in compliance with regulations, forgoing its previous decentralized theme.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow