Binance Hired Compliance SVP From Rival Crypto Exchange Kraken

Cryptocurrency exchange Binance hired Steven Christie as its senior vice president (SVP) of compliance from rival Kraken, according to Binance founder Changpeng "CZ" Zhao.

CZ tweeted that Christie joined Binance "a few months ago" and that the firm is still planning to hire "a few hundred more compliance people."

Christie leads a 750-strong team at the world's largest cryptocurrency exchange which has been keen to demonstrate its commitment to compliance since receiving a string of warnings from central banks and other regulatory bodies last year.

The Wall Street Journal had reported about the move earlier.

The news comes a day after Binance announced it was forming a board to advise it on regulatory and political matters. The advisory board's members include David Plouffe, a former senior adviser to President Barack Obama, Lord Ed Vaizey, a former U.K minister of state for culture and the digital economy, and former chair of the First Bank of Nigeria Ibukun Awosika.

Read more: Kraken’s Jesse Powell to Step Down as CEO of Crypto Exchange