Top Lawyer for Binance.US Steps Down

The top lawyer for the U.S. arm of exchange giant Binance has departed after just seven months in the position.

• Christopher Robins, who held the title of general counsel, will be assuming a part-time role at the company.
• “Chris has been one of the driving forces in assembling our leading legal team, and we are grateful for his past and continuing efforts on behalf of Binance.US and our customers,” a Binance.US spokesperson said in a statement that it emailed to CoinDesk. Business Insider first reported the news.
• Binance, the world’s largest crypto exchange by trading volume, has faced a wave of regulatory backlash from financial watchdogs worldwide in recent months, forcing it to take a stronger, more proactive stance regarding compliance.
• Robins’ departure comes two months after Binance.US’s then-CEO, Brian Brooks, resigned after just four months on the job.
• The general counsel role will be filled on an interim basis by Norman Reed. Reed previously served as the top lawyer at Ripple Labs and payment services firm Nanopay, and held positions at the Securities and Exchange Commission’s (SEC) Division of Market Regulation and the Federal Reserve.

UPDATE (Oct. 22, 21:43 UTC): Adds Binance and information about an interim replacement and regulatory issues.