Binance.US Adds Former New York Fed Official Martin Grant to Board of Directors

Binance.US Adds Former Federal Reserve Official to Board Amid Regulatory Battles

In a strategic move to bolster its compliance efforts and navigate the complex regulatory landscape, Binance.US has announced the addition of Martin Grant, a former Federal Reserve Bank of New York official, to its board of directors. Grant, who brings over three decades of experience in legal and compliance-focused roles, including 17 years as the chief compliance and ethics officer at the New York Fed, is set to play a key role in guiding the future of one of the country’s leading crypto platforms.

The appointment comes at a crucial time for Binance.US, as the exchange continues to face regulatory challenges in the United States. Earlier this year, Changpeng Zhao, the founder and former CEO of the global Binance exchange, stepped down as chair of the board following the exchange’s multibillion dollar settlement with U.S. regulators on money laundering and sanctions violation allegations. Binance.US, however, was not involved in these settlements.

Grant, who currently serves as the global head of regulatory affairs at JST Digital, expressed his excitement about joining Binance.US and helping shape the future of the American digital asset industry. With his extensive experience in compliance and regulatory matters, Grant is expected to play a crucial role in navigating the exchange through its ongoing legal battles with the U.S. Securities and Exchange Commission (SEC).

Binance.US CEO Norman Reed, a former senior enforcement attorney at the New York Fed and special counsel with the SEC, expressed confidence in the exchange’s position with the SEC. Despite the challenges posed by the regulatory environment, Reed highlighted the strong rebound in trading volumes, revenue, and user engagement on the platform in recent quarters.

As Binance.US continues to evolve as a crypto-only exchange, the addition of Martin Grant to its board signals a commitment to strengthening compliance measures and building a sustainable future in the rapidly changing digital asset landscape. With Grant’s expertise and experience, Binance.US is well-positioned to navigate the regulatory challenges ahead and drive innovation in the American crypto industry.