The US division of the largest cryptocurrency exchange Binance has created a new investigative unit and appointed him the head of a former FBI special agent.
Binance.US Vice President and Head of Legal, Krishna Juvvadi, said that the Investigations Department will be led by former FBI Special Agent BJ Kang, who is tasked with building "investigative infrastructure." It will work with law enforcement, regulatory agencies, and exchanges to detect and stop any illegal activity on the Binance.US platform.
Reuters called BJ Kang "the man most feared on Wall Street." During his nearly 20-year tenure with the FBI, Kang became known for his high-profile investigations into securities fraud and insider trading in traditional finance.
“Close coordination between the crypto industry and relevant law enforcement agencies, and identifying and punishing attackers, is essential to increase trust and enable the continued growth of the Binance.US crypto ecosystem,” said Kang.
Over the past year, Binance.US has significantly strengthened its legal capabilities by adding 145% to its staff. At the same time, more than 20% of the company's employees are focused on compliance and risk functions.
In August, the US division of the Binance exchange announced that it received a money transfer license from the Nevada Department of Business and Industry.
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