Binance, a major cryptocurrency exchange, plans to expand its compliance team to 645 employees by the end of this year, as reported by BlockBeats news. The team will grow by 34% from November 2023 to the end of 2024. Currently, Binance has more than 1,000 compliance employees and outsourced personnel.
Todd McElduff, who joined Binance this year as director of corporate compliance, oversees the Corporate Compliance team. This team is responsible for working with law enforcement on requests, conducting special investigations, providing education and training to law enforcement officers, and working in areas such as transaction monitoring, market surveillance, and sanctions compliance.
McElduff has 20 years of compliance experience, focusing on financial crime in both traditional finance and fintech. He previously served as senior director of PayPal.
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