According to CoinDesk, Binance said that as its compliance department continues to build rapidly, it is expected to have 645 full-time compliance employees by the end of this year, an increase of 34% from November last year. According to a press release issued by Binance on Friday, including contractors, there are currently more than 1,000 employees dedicated to compliance work.
“Our industry has entered a new phase of paradigm shift and maturity, where regulatory compliance has become an essential standard for user experience and protection, business success, and sustainable growth,” said Noah Perlman, Chief Compliance Officer at Binance. “Binance has grown alongside regulators and other participants over the years, and the continued growth of our compliance team and program is a testament to this and to this phase of our industry that is destined for strong and sustainable growth.”
