"Wow, remind me that all Fed members don't like crypto, but there are also open-minded ones."
Binance.US, a cryptocurrency exchange based in the United States (US) revealed that former Chief Compliance and Ethics Officer from the Federal Reserve Bank of New York Martin Grant has joined its board of directors.
Pleased to announce that Grant will bring regulatory, legal and compliance experience to crypto exchanges as one of its newest board members.
According to Norman Reed, Interim Chief Executive Officer (CEO) of Binance.US, Grant will also help the crypto exchange continue to navigate the current regulatory environment in the US following his also being Head of Regulatory Affairs and Global Integrity at financial services firm JST Digital.
The positive development occurred after Binance announced the formation of a board for the first time where seven people will be chaired by Gabriel Abed, who is the ambassador of Barbados to the United Arab Emirates (UAE) who has staff and relations with regulatory authorities.
Before stepping down in November 2023, former Binance CEO Changpeng Zhao (CZ) chaired the board of Binance US as part of its deal with US authorities.
It is widely known that CZ who resigned as CEO of Binance has pleaded guilty to one criminal charge where he is scheduled to be sentenced on April 30, 2024.
Binance, Binance.US including CZ are still facing a civil lawsuit that was initially filed by the Securities and Exchange Commission (SEC) in June 2023 for allegedly offering unregistered securities.
