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Binance Executive Says US Settlement Was ‘Turning Page’, Prepares for Regulations

Crypto exchange Binance has been going through major regulatory turbulence in recent times amid its legal battle with the US Securities and Exchange Commission. However, while speaking at the Paris Blockchain Week on Wednesday, April 10, Binance’s head of institutional and VIPs Catherine Chen said that the company’s $4.3 billion settlement with the SEC was a major “turning page”.

Chen further added that Binance is ready to welcome the coming wave of crypto regulation and as a result, they have employed an independent compliance monitor while agreeing to the five-year US Treasury monitoring. Chen said that this is “frankly, a great thing from my perspective”.

Additionally, the Binance executive brushed off concerns that the exchange would suffer under this monitoring agreement. She further added that Binance has already been preparing for it. Chen said:

“It is a challenge, but it’s a welcome challenge and we fully embrace it because we know that that would be great for the market.”

Last year in November 2023, Binance.US and co-founder License.

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