Binance appoints new general counsel amid intensifying legal troubles

Binance has appointed Eleanor Hughes arsenic its caller wide counsel, effectual immediately, according to a July 13 press release.

Hughes archetypal joined Binance successful November 2021 and was subsequently appointed caput of ineligible for the APAC and MENA regions. She played a cardinal relation successful successfully securing operational licenses for the speech successful assorted jurisdictions — including Dubai and Bahrain — successful the 2 regions.

Her occurrence successful some regions could beryllium wherefore the speech has promoted her to pb its planetary regulatory efforts, which person not been going smoothly successful large regions similar Europe and the U.S.

According to the release:

“A large absorption of her enactment volition beryllium connected collaborating with Binance’s Global Compliance squad to enactment our committedness to responsibly turn the planetary Web3 manufacture successful adjacent collaboration with regulators and policymakers astir the world.”

Hughes is filling the relation precocious vacated by Han Ng, who stepped down on with 2 different executives past week — main strategy serviceman Patrick Hillman and vice president of compliance Steven Christie.

High-level departures

Media reports astatine the clip claimed the departures were related to the exchange’s regulatory troubles and disagreements with CEO Changpeng ‘CZ’ Zhao.

The reports besides cited sources wrong Binance claiming the executives were leaving owed to worries of looming ineligible enactment by the U.S. Department of Justice.

However, Hillman responded to the reports via societal media and said the reports were unfounded and the departures were driven by idiosyncratic reasons.

CZ besides took to societal media to quell the rumors and said the reports were much “FUD” — a common, dismissive shorthand for fear, uncertainty, and doubt. He added that the departures were a regular portion of the exchange’s operations.

The station Binance appoints caller wide counsel amid intensifying ineligible troubles appeared archetypal connected CryptoSlate.