December 5, 2022

Breaking: Binance Onboards Former IRS Agent Behind Silk Road Burst

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Binance, the world’s leading crypto exchange continues to expand its regulatory and legal team with the addition of former IRS representative Tigran Gambaryan, the male behind some of the high profile and multi-billion dollar digital property cases. Gambaryan is most known for his investigation and bursting of the largest darknet marketplace Silk Road and subsequent arrest of Ross Ulbricht. He was likewise involved in the notorious Mt. Gox crypto exchange hack which was the biggest Bitcoin processor at the time.

Gambaryan would sign up with Binance as the vice president of global intelligence and examinations. Matthew Price, another former IRS unique representative would quickly join Binance as the senior director of investigations. Changpeng Zhao, the CEO of Binance stated the addition of highly experienced previous IRS agents would make the crypto exchange a leader in compliance. He described,

“The Binance investigations group now includes the top investigators worldwide,” Binance Chief Executive Officer Changpeng “CZ” Zhao said in the statement. “This level of experience will make Binance a leader in compliance, boosting rely on Binance and the cryptocurrency ecosystem as a whole.”

Binance Working Towards Compliance in Full Force

Binance’s regulatory trouble in nearly a dozen nations has actually required it to re-strategize its compliance and regulative teams, onboarding numerous experienced regulatory and legal executives. The crypto exchange claims to be actively working with regulators in various countries to guarantee full compliance.

Binance recently announced the suspension of its area trading services and fiat entrances through its global platform in Singapore owing to the current warning by Singapore’s top regulatory body. Apart from Singapore, the crypto exchange has also closed its crypto derivatives offerings throughout Europe, Hong Kong, Australia, and Singapore. With guidelines getting harder all over the world and completing exchanges such as Coinbase and FTX are making excellent progress, Binance is working to fix its ways to remain the leading crypto exchange of the world.

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