Former Binance Executive Returns as Deputy Chief Compliance Officer

Steve Christie expressed satisfaction with how Binance has navigated the regulatory challenges posed by the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DoJ). He stated, "I'm impressed with what Binance has achieved in the compliance arena since my brief departure."

According to the announcement, Christie and Binance's Chief Compliance Officer, Noah Perlman, will collaborate to further strengthen their global compliance program. However, Christie and Perlman also aim to explore new opportunities for Binance to maintain its leadership position as the industry evolves.

In December 2023, BeInCrypto reported that a court had alleged that Zhao and Binance had likely violated the Commodity Exchange Act and CFTC rules, resulting in a $150 million civil penalty against Zhao personally.

Binance was also required to pay $1.35 billion in alleged transaction fees obtained unlawfully and an additional $1.35 billion in penalties to the CFTC. In November 2023, Binance and CZ agreed to settle with the U.S. Department of Justice for a $4.3 billion fine, including a $3.4 billion penalty from the Financial Crimes Enforcement Network of the U.S. Department of the Treasury and an additional $968 million from the Office of Foreign Assets Control.

In June 2023, the SEC filed a lawsuit against Binance Holdings Ltd., its U.S. subsidiary BAM Trading Services Inc., and company founder Changpeng Zhao, accusing them of numerous violations.