Binance Without CZ: Head of Regional Markets Vishal Sacheendran on Exchange’s Next Steps

BE[IN]CRYPTO09-28

Binance intensifies compliance efforts: 500-600 employees now, aiming for 700-800 by year-end, with 19 global registrations. CZ remains ultimate shareholder but isn't involved in operations, adhering ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2470042406?lang=en_US&edition=fundamental","thumbnail":"https://beincrypto.com/wp-content/uploads/2024/09/bic_Binance_1-covers_neutral-850x478.png","is_english":true,"pubTime":"2024-09-28 18:46","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2470042406","market":"us","top_or_hot":-1,"title":"Binance Without CZ: Head of Regional Markets Vishal Sacheendran on Exchange’s Next Steps","media":"BE[IN]CRYPTO","content":"<div>\n<p>Binance intensifies compliance efforts: 500-600 employees now, aiming for 700-800 by year-end, with 19 global registrations.\nCZ remains ultimate shareholder but isn't involved in operations, adhering ...</p>\n\n<a href=\"https://beincrypto.com/binance-post-cz-era/\">Source Link</a>\n\n</div>\n","source":"beincrypto_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Binance Without CZ: Head of Regional Markets Vishal Sacheendran on Exchange’s Next Steps</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBinance Without CZ: Head of Regional Markets Vishal Sacheendran on Exchange’s Next Steps\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-28 18:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/binance-post-cz-era/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Binance intensifies compliance efforts: 500-600 employees now, aiming for 700-800 by year-end, with 19 global registrations.\nCZ remains ultimate shareholder but isn't involved in operations, adhering ...</p>\n\n<a href=\"https://beincrypto.com/binance-post-cz-era/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ADGM","symbol_name":"Adagio Medical Holdings, Inc.","start_time":0,"source_url":"https://beincrypto.com/binance-post-cz-era/","article_id":"2470042406","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/09/bic_Binance_1-covers_neutral-850x478.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2470042406","pubTimestamp":1727520418,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Binance intensifies compliance efforts: 500-600 employees now, aiming for 700-800 by year-end, with 19 global registrations.CZ remains ultimate shareholder but isn't involved in operations, adhering strictly to the settlement agreement terms.Crypto education crucial: Binance collaborates with universities, trains law enforcement, and emphasizes investor research to drive industry growth.In a timely interview, Vishal Sacheendran from Binance offered insights into the cryptocurrency giant’s operations amidst major changes.Sacheendran, Binance’s Head of Regional Markets, stressed the company’s dedication to staying compliant and shared insights on its future goals. Speaking to BeInCrypto, he discussed how one of the largest cryptocurrency exchanges is tackling regulatory hurdles, adapting connection with its founder Changpeng Zhao  , and planning its next steps.If you look at the  DOJ’s settlement, what happened was from our initial years as a company when rules and regulations were not i","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ADGM":"Adagio Medical Holdings, Inc.","BK4082":"医疗保健设备"},"translate_title":"没有CZ的币安：区域市场主管Vishal Sacheendran谈交易所的下一步行动","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ADGM":1},"content_text":"Binance intensifies compliance efforts: 500-600 employees now, aiming for 700-800 by year-end, with 19 global registrations.\nCZ remains ultimate shareholder but isn't involved in operations, adhering strictly to the settlement agreement terms.\nCrypto education crucial: Binance collaborates with universities, trains law enforcement, and emphasizes investor research to drive industry growth.\n\nIn a timely interview, Vishal Sacheendran from Binance offered insights into the cryptocurrency giant’s operations amidst major changes. \nSacheendran, Binance’s Head of Regional Markets, stressed the company’s dedication to staying compliant and shared insights on its future goals. Speaking to BeInCrypto, he discussed how one of the largest cryptocurrency exchanges is tackling regulatory hurdles, adapting connection with its founder Changpeng Zhao (CZ) , and planning its next steps.\nWhat progress has there been in the policy of Binance in global regulatory compliance, especially after what happened to CZ?\nIt’s a bit unfair to say that we have only been paying attention to compliance from when CZ had a settlement. Compliance was our focus for four years or more. Even though we’re just a 7-year-old company, we’ve always paid huge attention to compliance over the past years.\nIf you look at the (US) DOJ’s settlement, what happened was from our initial years as a company when rules and regulations were not in place, and they mention that we have done a good job with the compliance program since then.\nCurrently, we have about 500 to 600 compliance employees and we continue to invest heavily in their team. We are hoping to hit close to 700 to 800 by the end of the year. So, we are one of the most regulated crypto firms out there. We just had our 19th registration with India a couple of weeks ago.\nAll in all, we’ve done pretty well in the compliance space. I don’t think the settlement with the US regulators has anything to do with our current compliance pace.\nHow is the relationship between CZ and Binance going to be after he is released?\nHe is only the ultimate shareholder. He’s not involved at all and that was a part of the settlement. He won’t come back and you can see it in the statements. We have a statement. He’s not involved in any of the operations.\nThere are a lot of speculations that the prices of Binance-related tokens might go up once that happens, too.\nYou should be more hyped about the US federal rate cuts. That is going to be more influential than anything else.\nWhat is the industry outlook for crypto?\n2025 is going to be a very interesting year for crypto, and we just hope and see what happens next. There is a lot of good stuff coming with the regulations slowly catching up to innovation. You can see regulators trying to grow the industry instead of looking at it from their own perspective.\nVishal sacheendran, Head of Regional Markets, Binance. Source: Binance\nBinance has been putting a lot of effort into education in the crypto space. What are your major achievements?\nWe have to start looking at crypto education from the grassroots level. In Kazakhstan, we are working with universities and high schools to teach kids about blockchain, about crypto.\nOur users are becoming more knowledgeable, too. For people who want to invest, they need to know what they’re investing into, do their research extremely important, and not just follow the hype.\nThere’s a huge effort being placed on education not just with Binance Academy, but also in the work that we do with the regulators, law enforcement agencies, with governments across the world. Our compliance teams work with law enforcement agencies across the world, giving them training. We give cybersecurity training to a lot of people.\nJust like how you did mandatory AML and KYC training when you joined a bank, I think these things should be mandatory — for crypto, too. Education is going to be the key for them to understand the industry and how to treat it.\nWhich jurisdiction seems to have the most reasonable regulation for the crypto industry?\nEvery jurisdiction is different. For example, Japan was one of the first jurisdictions globally to come up with a crypto framework. They treated crypto from an AML registration point of view.\nIf you look at a comprehensive framework for crypto, Abu Dhabi Global Market (ADGM) was the first one in Abu Dhabi and I was part of the team that rolled it out. Everyone has a different risk appetite and different perspectives on how they should regulate crypto.\nThe ones that will be successful are the ones that are going to ensure that they don’t kill the industry but regulate it. The crypto regulators either regulate it, prohibit it, or take no action. I think regulation is the key.\nFor specific jurisdictions, you can see the adoption of crypto in the markets in MENA, Latin America, and Southeast Asia. Indonesia, Thailand, and India have the highest crypto adoption globally.\nThere are other jurisdictions that are not there yet. It could be for multiple reasons. They don’t have the risk appetite for it and that’s a huge it’s a huge drain on talent.\n\n\n\n\nTop crypto projects in the US | September 2024\n\n\n\nExodus\nExplore\n\n\n\n\n\n\nCoinrule\nExplore\n\n\n\n\n\n\nUphold\nExplore\n\n\n\n\n\n\nCoinbase\nExplore\n\n\n\n\n\n\nChain GPT\nExplore\n\n\n\n\n\n\n\n\n\nTop crypto projects in the US | September 2024\n\n\nExodus\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\nChain GPT","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470042406"}