As global adoption of cryptocurrencies accelerates, Binance reinforces its commitment to compliance. By increasing its compliance staff by 34% by the end of 2024, the company prepares to meet the growing demands of the industry, thereby ensuring the protection of its 240 million crypto users worldwide.
Binance increases its compliance staff: a precursor to the Bull Run?
Binance plans to increase its compliance staff to 645 employees by the end of the year, representing a 34% growth between November 2023 and the end of 2024. Currently, Changpeng Zhao's company employs over 1,000 compliance staff and contractors. Additionally, the risk management team is about to reach its target for 2024, with 137 of the 138 planned members already in place. Although Binance has quantitative objectives, the main focus remains on quality.
This expansion of the compliance staff is a direct response to the growing demand from crypto users. By strengthening its team, Binance ensures it continues to comply with international regulations and protects its users from risks.
Binance's commitment to compliance and risk management demonstrates its willingness to guide the cryptocurrency industry toward sustainable and responsible growth. By attracting top-level experts and increasing its resources, Binance prepares to navigate an increasingly complex regulatory landscape and respond to the high expectations of its users.
A resilience despite the challenges of the cryptocurrency industry
Despite the new strict rules imposed by the SEC, Binance continues to stand firm and challenge regulatory obstacles. The company remains determined to navigate this complex landscape, demonstrating its resilience and commitment to its users and the cryptocurrency industry. Hoping, of course, that the new SEC head, after Gary Gensler's departure in January 2025, will be less strict with the cryptocurrency industry.
In summary, the significant increase in Binance's compliance staff reflects its commitment to maintaining the highest standards of security and compliance in the cryptocurrency industry. All of this supports responsible and sustainable growth of the ecosystem.
