Martin Grant, who used to be the Chief Compliance and Ethics Officer for the New York Federal Government, has been put on the Board of Directors of Binance.US, the American branch of the famous cryptocurrency exchange Binance. Grant is currently the Global Head of Regulatory Affairs at JST Digital. He has thirty years of experience in the financial and digital asset industries, which he will bring to his new job.
Binance recently had problems with the U.S. Securities and Exchange Commission (SEC), which led to a $4.3 billion plea deal. This assignment comes after those problems. As the company works to improve its ethical and legal compliance, Grant’s knowledge is likely to be very important in guiding the troubled crypto giant towards best practices.
“The American digital asset industry is at an inflection point, and I am excited to help guide the future of one of the country’s most influential and customer-centric crypto platforms. It is an honor to join the Binance.US Board and be part of an organization built from the ground up to connect Americans to the digital asset industry in a safe, responsible, and compliant manner.”Martin Grant, former NY Federal Reserve Bank Chief
Binance Forms Regulatory Oversight
Grant was added to the board after the first-ever Binance Board of Directors was formed. This was required by rules in a deal with the U.S. Department of Justice. It’s still not clear where the exchange will be based, but earlier this month it announced its seven-member board.
That the board is made up of CEO Richard Teng, who took over after founder Changpeng Zhao quit because of a long-lasting crackdown by U.S. regulators. Heina Chen, Jinkai He, and Lilai Wang are some other well-known members. Xin Wang, CEO of Bayview Acquisition Corp., and Arnaud Ventura, managing partner at Gojo & CO, are outsiders who are also important.
Gabriel Abed, who used to be Barbados’ ambassador to the UAE, will be the head of the board and be in charge of day-to-day operations and compliance. As part of a monitoring scheme that could last up to five years, Abed will also keep in touch with regulatory authorities.
