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Binance To Grow Its Compliance Team As Global Regulatory Requests Skyrocket<\/span><\/h2>\nBinance<\/span><\/a> plans to grow its compliance workforce to 700 employees by the end of the year, up from 500 now, Teng said. <\/span><\/p>\nHe said the exchange fields an increasing number of requests from law enforcement agencies across the globe. This year alone, Binance has received around 63,000 requests so far, which is more than the 58,000 requests it received in all of 2023.<\/span><\/p>\nBinance’s annual compliance costs have also risen from $158 million two years ago and are expected to rise further, Teng said.<\/span><\/p>\nJudge Gives SEC The Go Ahead In Its Lawsuit Against The Leading Exchange<\/span><\/h2>\nTeng took over as Binance CEO after <\/span>Changpeng Zhao<\/span><\/a> stepped down as part of the plea deal with US regulators. <\/span><\/p>\nUnder his leadership, the company has changed how it works with prime brokers as well as tightened requirements for new token listings on the platform.<\/span><\/p>\nBinance has, however, not yet established its global headquarters. The company’s CEO named Abu Dhabi, Dubai, and another undisclosed city as potential options for a future global HQ.<\/span><\/p>\n\n⚡️Binance Affirms SEC Has No Right to Use Agreement with Department of Justice to Proceed with Charges 🚫
⚡️ Binance, one of the leading cryptocurrency exchanges, has officially declared that the United States Securities Commission (SEC) has no legal basis to use Binance's… pic.twitter.com\/HGiXos7yuR<\/a><\/p>\n— Sophia Kong (@Sophiakong789) December 13, 2023<\/a><\/p><\/blockquote>\n
He said the exchange fields an increasing number of requests from law enforcement agencies across the globe. This year alone, Binance has received around 63,000 requests so far, which is more than the 58,000 requests it received in all of 2023.<\/span><\/p>\n Binance’s annual compliance costs have also risen from $158 million two years ago and are expected to rise further, Teng said.<\/span><\/p>\n Teng took over as Binance CEO after <\/span>Changpeng Zhao<\/span><\/a> stepped down as part of the plea deal with US regulators. <\/span><\/p>\n Under his leadership, the company has changed how it works with prime brokers as well as tightened requirements for new token listings on the platform.<\/span><\/p>\n Binance has, however, not yet established its global headquarters. The company’s CEO named Abu Dhabi, Dubai, and another undisclosed city as potential options for a future global HQ.<\/span><\/p>\n ⚡️Binance Affirms SEC Has No Right to Use Agreement with Department of Justice to Proceed with Charges 🚫 — Sophia Kong (@Sophiakong789) December 13, 2023<\/a><\/p><\/blockquote>\nJudge Gives SEC The Go Ahead In Its Lawsuit Against The Leading Exchange<\/span><\/h2>\n
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⚡️ Binance, one of the leading cryptocurrency exchanges, has officially declared that the United States Securities Commission (SEC) has no legal basis to use Binance's… pic.twitter.com\/HGiXos7yuR<\/a><\/p>\n