Steve Christie’s Return to Binance Signals Strong Compliance Push

Binance

has rehired Steve Christie, its former Senior Vice President of Compliance, as the Deputy Chief Compliance Officer.

In a recent announcement, the exchange said Christie’s primary responsibility will be to enhance Binance’s compliance framework by collaborating with regulators, industry leaders, and other stakeholders.

His extensive compliance expertise and familiarity with the company make him well-suited for the role.

Steve Christie Returns Follows a Period of Absence

Christie’s return follows a period of absence during which he focused on personal matters and family.

Taking over the position left vacant by Kristen Hecht, Binance’s previous Deputy Chief Compliance and Global Money Laundering Reporting Officer, Christie will work closely with Noah Perlman, the firm’s Chief Compliance Officer.

Perlman expressed confidence in Christie’s capabilities, stating that his previous tenure at Binance had contributed significantly to the growth and development of the compliance team.

“Steve’s familiarity with Binance and deep compliance expertise makes him the perfect person to assume the DCCO role,” said Perlman.

“When Steve first joined Binance in 2022, the compliance team underwent fast growth and made tremendous efforts and investments to strengthen and mature its compliance culture and program, which Steve helped lead.”

Perlman emphasized that compliance is an ever-evolving field, and Christie’s expertise has been instrumental in helping Binance navigate new challenges and changes.

By making compliance a business enabler and a driver of sustainable industry growth, Christie’s return will further strengthen Binance’s commitment to regulatory compliance.

Binance Pushes for Global Expansion

Last month, Binance unveiled its joint venture crypto exchange Binance Thailand, which came in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.

Binance Thailand, abbreviated as Binance TH, provides a platform for digital asset exchange services with Thai baht trading pairs.

It has also integrated with local banks in Thailand and forged a partnership with Binance Kazakhstan for brokerage services, all under the watchful supervision of Thailand’s SEC.

The move came as Binance.US and its global parent company, Binance, have faced regulatory scrutiny in recent months.

In June, the Securities and Exchange Commission (SEC) initiated an enforcement action against them, alleging the sale of unregistered securities.

The SEC lawsuit named Binance founder Changpeng Zhao as one of the defendants, accusing him of controlling Binance.US despite claiming it operated independently.

In November, Zhao stepped down as CEO and pleaded guilty to an anti-money laundering violation, agreeing to pay a $50 million fine. 

Binance, as a company, also settled with the Justice Department, the Treasury Department, the Commodity Futures Trading Commission, and the Office of Foreign Assets Control, paying a hefty $4.3 billion in penalties.

Nevertheless, Binance is expected to maintain its position as the dominant global exchange, even after reaching a settlement with the U.S. Department of Justice (DOJ).

Some analysts even claimed that the plea deal between Binance and the DOJ is a favorable outcome for both Binance founder Changpeng “CZ” Zhao and the company itself.