Binance Said to Be Hiring ‘UK Version of Brian Brooks’

in #binance3 years ago

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The crypto exchange is looking for a U.K.-based ex-regulator or government official, according to people familiar with the plans.

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Binance is attempting to hire a former regulator or government official in the U.K. in order to lend the brand some compliance clout as global regulatory pressure mounts on the world’s largest cryptocurrency exchange operator, according to two people familiar with the plans.

Binance is looking to hire “a U.K. version of Brian Brooks,” one of the people told CoinDesk, referring to the well-regarded former head of the U.S. Office of the Comptroller of the Currency (OCC) who was brought in to run Binance.US in April of this year.

The search for a respected former regulator to represent Binance’s interests in the U.K. follows an announcement last month by the Financial Conduct Authority (FCA), which said that Binance was not allowed to conduct any regulated activities in the country. As a result of the FCA’s action, British bank Barclays said earlier this week it was blocking customers from using its debit and credit cards to make payments to Binance.

The exchange operator’s regulatory issues aren’t limited to the U.K. Regulators from Japan to the Cayman Islands have announced actions ranging from simply saying the exchange operator is not welcome to operate in their country to, in Thailand’s case, a criminal complaint. Over in the U.S., Bloomberg in May reported Binance was under investigation by federal agencies, including the Internal Revenue Service (IRS). Binance had not been accused of any wrongdoing at that time, Bloomberg said
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