menuIcon
$ 85,091.5
BTC
$ 85,091.5
0.66 %
$ 1,616.34
ETH
$ 1,616.34
1.46 %
$ 0.6269
ADA
$ 0.6269
-0.04 %
$ 590.96
BNB
$ 590.96
-0.22 %
$ 138.74
SOL
$ 138.74
3.38 %
Gungun Bhatia
Oct 21, 2022
by Gungun Bhatia

Ex-FBI Agent To Head Binance.US' Investigations Unit

Binance.US

Table of contents

  1. Binance.US Faces Scrutiny by SEC
  2. Counter Illicit Conduct on Exchange
Binance.US, the U.S. arm of the largest cryptocurrency exchange in the world, said that it has established a new investigative unit and appointed a former FBI special agent as its new leader. The goal of appointing a new leader is to end the illicit conduct on the trading platform. According to Krishna Juvvadi, the company's head of law, the investigations department is a new division within the exchange's U.S. subsidiary, and ex-FBI agent BJ Kang has been appointed as the division's first head of investigations.

Kang will work with law enforcement, regulators, and other exchanges in this capacity to look for and halt unlawful conduct on Binance US's platform. He will also create the structure of an investigation for Binance.US. In a statement released on October 20, Binance.US claimed that during the previous year, it reinforced its legal, regulatory, and risk operations by adding 145% more staff to those departments and allocating more than one-fifth of the entire workforce to them.

Binance.US Faces Scrutiny by SEC

During his almost 20-year tenure with the FBI, Kang has been known for the highest-rated investigations into market manipulation and securities fraud in the conventional financial sector. He formerly worked for the FBI's cybercrime unit at the Washington Field Office, where he looked into crimes including extortion, hacking, and money laundering using the internet as a tool.

The Securities and Exchange Commission (SEC) is looking into how Binance.US may have revealed its possible affiliations to two firms to customers and has reportedly requested information about two companies allegedly operating as market participants for the platform. Kang's hiring comes as the exchange is under investigation by the SEC.

Counter Illicit Conduct on Exchange

BJ has received multiple awards for his accomplishments throughout his career, including the FBI Medal of Excellence for Exceptional Performance of Duties, various FBI Citations for Special Achievement, and the Attorney General's Distinguished Service Award. Under the direction of CEO and President Brian Shroder, Binance.US has dramatically strengthened its legal, regulatory, and risk operations over the past year.

Follow us on: News
Securities and Exchange Commission (SEC) Binance.US FBI BJ Kang
Ex-FBI Agent To Head Binance.US' Investigations Unit
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks