Binance plans to expand its compliance team to 645 full-time employees by the year's end, representing a 34% increase compared to last November. This initiative comes after the exchange faced serious legal repercussions, including a $4.3 billion fine, and a leadership change aimed at prioritizing regulatory adherence. New CEO Richard Teng is focused on transforming Binance into a regulatory compliance model. The commitment to compliance began before recent leadership changes, emphasizing a proactive approach in a changing cryptocurrency landscape.
"Our industry has entered a paradigm shift and new phase of maturation where regulatory compliance is an essential standard to user experience and protection, business success, and responsible growth."
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