Binance.US distances itself from Binance.com. CZ steps down from chairmanship
Binance.US, the US branch of the world-famous cryptocurrency exchange Binance, has achieved significant results. presentation Regarding operational and leadership structures. This news follows a recent settlement involving Binance.com and its founder Changpeng “CZ” Zhao.
Binance.US took to Twitter on November 29, 2023 to clarify its position and operational independence from Binance.com. Binance.US said it operates independently, sharing only its brand name and name, underscoring its commitment to complying with US regulations. technology Join Binance.com. This clarification is important to US customers as it ensures that Binance.US complies with local regulatory standards.
In response to the recent incident, Binance.US confirmed that it was not involved in the settlement between Binance.com, CZ and US regulators. These agreements, announced on November 21, 2023, included a total of $4.3 billion. Binance.US claims to have no outstanding enforcement issues with major US regulators such as DOJ, FinCEN, OFAC, or CFTC, thereby ensuring compliance to its customers.
In a major leadership change, CZ announced his decision to resign as Chairman of the Board of Directors of Binance.US. He will transition to a role in which his participation will be limited to economic interests and the transfer of voting rights through proxies. This decision comes after CZ pleaded guilty on November 21 to felony charges related to failed anti-money laundering policies during his tenure as Binance CEO.
With CZ stepping down, Binance.US will continue under the leadership of Norman Reed and the current management team. The company is poised for growth focused on its mission to modernize and democratize the financial system. This reassures customers of our commitment to providing a superior cryptocurrency trading experience.
In response to customer inquiries on November 30, Binance.US addressed concerns about cryptocurrency withdrawals. The company emphasized its commitment to customer service by encouraging customers with issues to contact support.
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