• Hecht’s background includes time as a senior policy adviser at the U.S Treasury Department.
• As Hecht’s successor, Chief Compliance Officer Noah Perlman will be a close collaborator.

A number of Binance’s senior legal and compliance employees have resigned in recent weeks, ostensibly due to the stress of handling several probes into the exchange’s business operations, although Binance strongly disputes this.

Binance stated Thursday that it has hired Kristen Hecht as its new deputy chief compliance and global money laundering reporting officer. After less than two years as the chief compliance officer of Meta’s crypto wallet initiative, Novi Financial, Hecht is returning to Binance as the exchange’s worldwide head of corporate compliance. Also, Hecht’s background includes time as a senior policy adviser at the Treasury Department of the United States.

Tough Times Ahead

According to a press release, Hecht’s primary responsibilities in her new position will be working on the company’s compliance program and interacting with authorities, IGOs, and industry organizations. As Hecht’s successor, Chief Compliance Officer Noah Perlman will be a close collaborator.

Moreover, this hiring comes as Binance maintains its position as a frontrunner in the fight against cryptocurrency players by U.S. legislators. The CFTC of the United States filed a lawsuit against Binance and its CEO, Changpeng Zhao, in March, claiming that the business unlawfully provided unregistered crypto derivatives products in the United States.

Suing the exchange for alleged violations of federal securities laws, the SEC did the same thing later in June. Recently, it was reported that the U.S. DOJ is contemplating filing fraud charges against Binance, however, they may settle for penalties and delayed or non-prosecution as per sources.

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