Binance claims to have appointed a director for the UK who has experience in compliance. Following FTX’s shocking collapse, regulation is a major concern. The appointment of a new director coincided with efforts to maintain integrity in the United Kingdom.
Binance Regional Manager for Europe and the UK, Ilir Laro, said on LinkedIn that his organization chose Nish Patel to be a director.
“Our main focus will be to register and comply with the UK’s Financial Conduct Authority to operate a regulated crypto-asset business in the UK,” Laro wrote.
Regulating the trade of digital assets has swiftly emerged as a hot topic within the crypto business in the wake of the crypto exchange FTX’s seismic collapse. The largest cryptocurrency exchange in the world, Binance, briefly considered taking over the struggling FTX before backing out.
According to his LinkedIn profile, Patel has previously worked in compliance for Hamilton Capital Holding and the cryptocurrency platform Rain.
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