Binance’s U.S. affiliate on Thursday said it hired Intel’s top compliance executive as the crypto exchange’s chief risk officer.
Sidney Majalya, a former federal antitrust attorney with stints managing Oracle’s and Uber’s compliance offices, will join Binance.US in January, according to a tweet. He’s been vice president of legal and chief compliance officer for the chip manufacturer since August 2019, according to his LinkedIn profile.
He will report directly to Brian Shroder, Binance.US CEO since October, a blog post said.
Shroder’s bringing on of Majalya, the Binance.US CEO’s first executive in the “risk” division, telegraphs the exchange means business on the compliance front. That could be pivotal as U.S. lawmakers continue to apply pressure to the nascent crypto industry, which some have argued is under-regulated.
“Binance.US is deeply committed to compliance, and our priority is to maintain and grow a world-class compliance and risk organization that earns the utmost confidence and trust of our customers, investors and regulators,” Majalya said in a statement.
He did not return an email seeking comment. Representatives for the exchange did not immediately return comment.
CORRECTION (Dec. 18, 23:24 UTC): Corrects spelling of Binance.US CEO’s name.
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