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

Greg Monahan joins the crypto exchange with 30 years' experience in government service, mostly as a U.S. Treasury criminal investigator.

AccessTimeIconAug 18, 2021 at 8:19 a.m. UTC
Updated Sep 14, 2021 at 1:41 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.