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Binance Increases Compliance Budget By 35% To $213 Million

Mary Liu

Summary: According to Fortune, Binance increased its annual compliance spending budget from $158 million to $213 million, a 35% year-over-year increase. The increased budget has been allocated to purchase advanced software systems to effectively identify and report suspicious transactions. The budget increase also includes costs associated with expanding the compliance team, including the reappointment of Steve ...

According to Fortune, Binance increased its annual compliance spending budget from $158 million to $213 million, a 35% year-over-year increase. The increased budget has been allocated to purchase advanced software systems to effectively identify and report suspicious transactions. The budget increase also includes costs associated with expanding the compliance team, including the reappointment of Steve Christie as deputy chief compliance officer.

Earlier today, Binance said that its former senior vice president of compliance, Steve Christie, has returned and will serve as Binance’s deputy chief compliance officer (DCCO).

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