Dozens of vacancies in the world’s largest cryptocurrency exchange Binance and Binance USA indicate that the company aims to strengthen its legal team.
Binance Strengthens Legal Team
Amid the growing uncertainty caused by the decline of most cryptocurrencies over the past few weeks, Binance, the leading cryptocurrency exchange by volume, is looking to greatly strengthen its defenses in case of any possible investigations from regulators.
However, this may be an indication that the company plans to step up its efforts to gain even greater market share in the EMEA and APJ markets. Binance is currently not facing any lawsuits and has recently been given a seal of approval by authorities in France and elsewhere, suggesting that legal counsel’s recruitment efforts can simply be difficult.
Surprisingly, despite the recent turmoil led by Binance USA, the overwhelming majority of open positions are from Binance Holdings Ltd., the company responsible for all firm operations outside the USA. announced in the company.
At the time of writing, Binance is receiving applications for two positions in the US legal division. In contrast, Binance Holdings currently has 42 open positions in its legal division.
Part of a Bigger Pressure for Stronger Editing
As the value of all digital assets has dropped by over $500 billion since the beginning of May alone, many crypto exchanges are making a concerted effort to increase regulatory oversight that can prevent future fraud.
In a statement on the subject, Binance spokesperson Jessica Jung reiterated that Binance focuses on protecting investors from unscrupulous people and said;
“We’ve been working on deploying our regulatory, compliance and security teams for months. We work with regulators to achieve our common goal. Our goal is to help the cryptocurrency industry grow responsibly and provide even more security for investors.”
Binance, on the other hand, had many regulatory issues over the past year, with many regulators questioning the exchange’s operations. However, Binance has managed to circumvent these issues and has recently been licensed to operate in several jurisdictions.
The company, along with other crypto exchanges, has obtained a license to operate a store in Dubai as a limited virtual asset service provider. More recently, it has received the first European regulatory approval from French regulators.