The head of the British division of the Binance crypto exchange and part-time CEO of its payment firm Bifinity, Jonathan Farnell, left the company in September. This is evidenced by government data data register.
In June, the specialist also worked as a senior compliance officer at Binance Europe.
On October 16, the platform suspended expansion of its customer base in the UK after regulations FCA to its partner – Rebuilding Society. The latter has pledged to limit the conduct of financial promotions on behalf of unauthorized cryptoasset service providers.
A week earlier, a new cryptocurrency advertising regime proposed by the FCA came into force in the UK. They complement the recently adopted Financial Services and Markets Act, which addresses the regulation of the industry in the country.
Farnell played a key role in Binance’s efforts to achieve regulatory compliance in the UK. He joined the crypto exchange in 2021 from eToro, where he led compliance. In March 2022, he was appointed CEO of Bifinity.
In August, Bloomberg learned about the termination of cooperation between payment companies Visa and Mastercard with Binance amid the latter’s regulatory problems. In March CFTC filed a civil lawsuit against the platform. In June, Zhao made claims against Binance and its head Changpeng SEC.
In September, Gleb Kostarev, head of the platform for Eastern Europe, CIS, Turkey, Australia and New Zealand, and Vladimir Smerkis, general manager for the CIS region, announced their departure from the organization. Also looking for a new job were the head of the Asia-Pacific region of the exchange Leon Phuong, chief strategy officer Patrick Hillman, and general counsel Han Ng.
Later it became known that the employment relationship with the heads of the legal department of Binance.US Krishna Juvvadi and the risk department of Sidney Majalya had been terminated.
On October 19, it became known that Binance France CEO Stephanie Cabossioras had resigned. In June, media reported that the branch was suspected of illegally providing cryptocurrency services and failing to comply with anti-money laundering obligations.
Source: Cryptocurrency
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