Binance Appoints Former US Treasury Enforcer to Anti-Money Laundering Role

Binance took another step in its efforts to assuage heightened regulatory scrutiny by naming a former U.S. Treasury enforcement investigator as its global money laundering reporting officer. In an interview with Bloomberg, CEO Changpeng "CZ" Zhao indicated that more senior hires are to follow.

Greg Monahan joins the crypto exchange with 30 years' experience in government service, most of which he spent as a U.S. Treasury criminal investigator, Binance announced Wednesday.
In that role, he was responsible for tax, money laundering and other financial crime, leading investigations involving cybercriminals, nation-state actors and terrorist organizations.
The appointment comes as Binance is attempting to be more proactive in its regulatory compliance, amid fairly intense scrutiny from regulators globally in recent months.
Monahan replaces Karen Leong, who has held the position since 2018 and becomes director of compliance.
Last month, Zhao said Binance is seeking someone with a strong regulatory background as his replacement.
He said in an interview with Bloomberg yesterday that hiring "very senior people" with regulatory and compliance experience who build teams in this area was Binance's No. 1 priority.
Binance also said yesterday that it had approached former the head of the Abu Dhabi Global Market, Richard Teng, to take charge of its business in Asia.

UPDATE (AUG. 18, 8:41 UTC): Adds Karen Leong to become director of compliance.

UPDATE(AUG. 18, 10:15 UTC): Adds Bloomberg interview with CEO Changpeng Zhao.

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