Binance, the world’s largest cryptocurrency exchange, purchased a new software system and increased its spending of $158 million for compliance to $213 million.
According to Fortune’s report, Binance, prevent and report suspicious transactions He purchased some software systems for this purpose. With this acquisition, annual spending on compliance increased from $158 million. for 213 million dollars reached.
Due to the increasing cost in question, Binance manager Steve Christie This includes returning as vice president of compliance and increased personnel costs.
In the statement made by Binance, Steve was previously suspended for a few months due to his family and health problems. He left Binance place was given.
As a result of the agreement reached with the US Department of Justice (DOJ) at the end of 2023, Binance More than 4 billion dollars He had made the payment. According to Fortune, the agreement in question corresponded to Binance’s former CEO Changpeng Zhao admitting to money laundering crimes.
As part of the agreement, Binance will comply with DOJ and Treasury Department terms. will fulfill and the court will would accept an appointed observer.