Binance Increased Compliance Budget by 35% Amid Regulatory Scrutiny

• Binance’s compliance budget is now $213 million, up from $158 million last year.
• The surge mirrors efforts to fortify its regulatory standing amid mounting scrutiny.
• Binance is bringing back Steve Christie, its deputy chief compliance officer.

Leading crypto exchange Binance has increased its compliance budget, allocating a staggering $213 million, up from $158 million in the previous year. This development was captured in a recent publication on Fortune, as spotlighted by renowned Chinese reporter Colin Wu.

Notably, the surge in Binance’s compliance budget from $158 million to  $213 million reflects an approximately 35% increase in spending. The surge mirrors the exchange’s concerted efforts to fortify its regulatory standing amid mounting scrutiny from the U.S. 

CEO Richard Teng emphasized the company’s commitment to fos…

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