Although Teng’s brief tenure as CEO has definitely accelerated Binance’s compliance efforts, the trade started making an effort to be extra compliant with regulators nicely earlier than Zhao stepped down in November 2023. Tigran Gambaryan, Binance’s head of monetary crime compliance, left the Inside Income Service (IRS) in 2021 to affix the trade. Noah Perlman, Binance’s chief compliance officer, began in January 2023. In 2023, Binance elevated its compliance spend by 36%.
