Steve Christie Rejoins Binance as Deputy Chief Compliance Officer

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the return of Steve Christie as its Deputy Chief Compliance Officer (DCCO). Christie, who previously served as the Senior Vice President of Compliance at Binance, will work closely with Noah Perlman, the Chief Compliance Officer, to enhance the exchange’s global compliance program and address the regulatory challenges facing the crypto industry.

Christie’s Experience and Expertise

Steve Christie has over 20 years of experience in compliance, risk management, and regulatory affairs in the financial sector. He has worked for leading institutions such as Goldman Sachs, Barclays, and Kraken, where he was the Global Head of Compliance before joining Binance in 2022. Christie left Binance in 2023 to focus on his health and family, but remained in touch with the exchange and its leadership.

Christie said he was impressed by what Binance had accomplished on the compliance front since he stepped away momentarily. He added that he was excited to rejoin the team and contribute to the exchange’s vision of increasing the freedom of money for everyone.

“I look forward to working with Noah and the rest of the Binance team to further strengthen our global compliance program, collaborate with regulators and industry leaders, and seize the opportunities that lie ahead as the crypto industry continues to evolve and mature,” Christie said.

Binance’s Compliance Challenges and Achievements

Binance has faced several compliance challenges in the past year, as regulators around the world have increased their scrutiny of the crypto industry. The exchange has been subject to investigations, warnings, bans, and lawsuits from various authorities, including the US Securities and Exchange Commission (SEC), the US Department of Justice (DOJ), the UK Financial Conduct Authority (FCA), and the Hong Kong Securities and Futures Commission (SFC).

However, Binance has also made significant progress in addressing these issues and enhancing its compliance standards. The exchange has hired several former regulators and compliance experts, such as Richard Teng, the former CEO of the Abu Dhabi Global Market’s Financial Services Regulatory Authority, as its CEO, and Jonathan Farnell, the former Director of Compliance at eToro, as its Director of Compliance for Europe.

Binance has also settled with the US government for $4.3 billion in November 2023, resolving the allegations of violating the Bank Secrecy Act, the Commodity Exchange Act, and the Securities Act. The settlement also required Binance to implement a comprehensive compliance program, cooperate with regulators, and report any suspicious activities.

Additionally, Binance has launched several initiatives to improve its transparency, accountability, and customer protection, such as the Binance Transparency Initiative, the Binance Security Council, the Binance Smart Chain Security Alliance, and the Binance Protect program.

Binance’s Compliance Vision and Strategy

Binance’s founder and former CEO, Changpeng Zhao, who stepped down in December 2023, said that compliance was one of the top priorities for the exchange and that he was confident in the new leadership and the compliance team to achieve the exchange’s goals.

“Binance has always been committed to complying with the rules and regulations in every market we operate in. We believe that compliance is not only a legal obligation, but also a social responsibility and a competitive advantage. We are grateful to have Steve back on board, as he brings a wealth of experience and expertise to our compliance team. We are confident that under his and Noah’s guidance, Binance will continue to lead the industry in compliance innovation and excellence,” Zhao said.

Noah Perlman, the Chief Compliance Officer, said that he was thrilled to have Steve back as the DCCO and that he looked forward to working with him to further enhance Binance’s global compliance program.

“Steve’s familiarity with Binance and deep compliance expertise makes him the perfect person to assume the DCCO role. When Steve first joined Binance in 2022, the compliance team underwent fast growth and made tremendous efforts and investments to strengthen and mature its compliance culture and program, which Steve helped lead. As Binance faces new changes and challenges, I am delighted to have Steve back on the team and work together to ensure that Binance remains the most trusted and compliant platform in the crypto space,” Perlman said.