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Binance’s US subsidiary on Thursday said it has hired an Intel compliance executive as director of risk for the cryptocurrency exchange.
Sidney Majalia, a former federal antitrust lawyer who led Oracle and Uber’s compliance teams, will join Binance.US in January, the tweet said. According to his LinkedIn, since August 2019, he has been the VP of Legal and Chief Compliance Officer at a chip company.
He will report directly to Brian Schroder, CEO of Binance.US since October, according to a blog post.
The involvement of Schroder Majalia, the first head of Binance.US in the “risk” department, suggests that the exchange intends to tackle regulatory compliance issues. This could be critical as US lawmakers continue to put pressure on the nascent crypto industry, which some believe is underregulated.
“Binance.US is deeply committed to compliance and our priority is to maintain and develop a world-class compliance and risk organization that deserves the utmost trust from our clients, investors and regulators,” said Madjalia in a statement.
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