Gemini Trust’s former Chief Operating Officer Noah Perlman has started as the chief compliance officer for BINANCE just as the world’s biggest crypto exchange faces heightened regulatory challenges.
Perlman began his tenure at Binance in January. Billionaire Changpeng Zhao’s exchange is grappling with a slew of regulatory obstacles following a rout in digital assets and blowups like that of rival FTX.
On Monday, the New York State Department of Financial Services said it had directed Paxos Trust Co. to stop issuing a Binance-branded stablecoin known as BUSD that has roughly $16 billion in circulation.
Last month, Binance was among the key counterparties to digital-asset platform Bitzlato, which has been accused of processing millions of dollars in illegal funds.
Perlman left Gemini as the firm founded by Tyler and Cameron Winklevoss contended with turmoil in digital-asset markets and the bankruptcy of partner Genesis, where many Gemini users had loaned their coins.
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