Binance.US Appoints Lesley O’Neil as New Chief Compliance Officer

• Binance.US appoints Lesley O’Neil as CCO to spearhead compliance efforts.
• The brand new govt will lead KYC and AML applications inside Binance.US. 
• Lesley beforehand served as CCO at Show and held roles at Ernst & Younger and Bloomberg LP.

Binance.US, the U.S. subsidiary of the most important cryptocurrency alternate, Binance, has appointed Lesley O’Neil as its new Chief Compliance Officer (CCO), in response to a January 4 weblog submit on the crypto alternate’s web site. 

As famous in that announcement, Lesley will lead Binance.US’s cost to make sure regulatory compliance in its operations. The newly appointed govt will spearhead compliance efforts corresponding to Know Your Buyer (KYC), Anti-Cash Laundering (AML), and sanctions applications. 

Lesley’s appointment follows a 2023 marked with regulatory challenges for the crypto alternate, particularly within the US. In the direction of the top of final yr, Binance co-founder and former CEO Changpeng Zhao vacated his seat and pleaded responsible to anti-money laundering violations. The CEO and Binance additionally agreed to a $4.3 billion take care of prosecutors.

With the regulatory troubles but to stop, the crypto alternate stated Lesley’s 15 years of expertise will assist its bid to be extra compliant. Previous to the Binance appointment, Lesley served as CCO at Show Identification, Inc., a digital identification verification for monetary service suppliers. She additionally beforehand labored at Ernst & Younger, Milbank LLP, and Bloomberg LP. 

In an announcement, Norman Reed, Interim CEO of Binance.US, stated, “Lesley is an knowledgeable within the fraud and identification house with a confirmed monitor document of creating and overseeing strong compliance and authorized features.” The CEO additional remarked: 

Her expertise partnering with crypto firms to reinforce their AML and KYC processes at Show, in addition to her work in conventional monetary providers at Ernst & Younger, can be exceptionally worthwhile as we proceed to uphold the very best requirements of compliance, security, and safety on our platform.

Final yr’s regulatory troubles considerably affected Binance’s big market share as traders scampered away on fears of one other institutional collapse. Whereas the crypto alternate continues to guide in crypto commerce quantity, different platforms have picked up appreciable market share. In the meantime, a second try from Changpeng Zhao to depart the USA was denied in late December. Prosecutors need the troubled billionaire to stay within the nation till his sentencing, resulting from occur someday this yr.