A Europol Specialist on the dark web named Nils Andersen-Roed will now work with the Binance exchange to strengthen the audit and investigations team.

Binance hired Nils Andersen-Roed as a Europol specialist on the dark web for its audit and investigations team. The hire came amidst the string of regulatory controversies across the world. The exchange Binance announced the hire of Nils Andersen Roed and stated:

“Nils’ appointment strengthens an already strong team of security specialists working hard to make sure Binance remains the most secure crypto ecosystem around.  After many years working in law enforcement I am excited to tackle new challenges in the Binance audit and investigations team. Over the years I have learned that simply arresting criminals isn’t enough to combat crime, you also need to take a broader look at the whole ecosystem in which they are operating.”

Andersen-Roed will focus on identifying bad actors on the exchange’s platform that protect user funds and supporting law enforcement agencies with the investigations. Andersen-Roed is joining the crypto company that is embroiled in a wide array of regulatory controversies across the world and the appointment is the latest in line of initiatives that the exchange took to bolster its compliance efforts. Over this year, crypto’s biggest exchange raised some red flags from regulators worldwide and since June, the Dutch Central Bank and Japan’s FCA issued consumer warnings against the exchange.

Polish Financial Regulator, binance, exchange, pfsa

Italy’s Consob and the Cayman Islands Monetary Authority said that Binance was not licensed to operate in the nations and the Malaysia Securities Commission also took enforcement action against the exchange for operating illegally in the country. After the Cayman Islands’ announcement, the Thai Securities and Exchange Commission filed a criminal complaint against binance and alleged that the exchange was operating as a digital asset business with no licnese.

In the UK, the Financial Conduct Authority clamped down on Binance Markets Limited which is a Binance entity that was acquired to operate an exchange in the UK. The FCA issued a consumer warning in June and said that it has a huge issue with the lack of headquarters for the exchange and then doubled down on BML, claiming that it was not capable of being regulated. The problems with the regulators hit hard in Singapore as well where CZ lives. The Monetary Authority of Singapore said that Binance is not yet licensed and the application is ongoing which is similar to what other companies did and got their applications rejected.

Singapore also added Binance.com to the investor Alert list saying that the exchange is not licensed.

Source: dcforecasts.com


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