Binance is working to establish a solid legal department to support its ongoing development and protect consumers from illegal conduct.
Acquired Legal Knowledge
Binance, the largest cryptocurrency exchange in the world, has added Joshua Eaton to its legal team as Deputy General Counsel.
Eaton, who was announced on the Binance Blog on May 11, is in charge of the company’s legal matters. He’ll also assist with global compliance, investigations, and law enforcement collaboration. Navigating laws, illicit user activity, and global penalties, among other things, may be a minefield when they are among the world’s top bitcoin exchanges. That is why it is critical to have competent legal counsel.
The legal team at Binance is further reinforced by the enthusiasm and experience that Josh brings to their continual efforts to safeguard users and manage risks, according to Hong Ng, General Counsel at Binance.
Josh played a key role in his government leadership job. He established the company’s ethical and compliance processes, navigating it through some of the most sensitive and complicated concerns that any government entity faces. Finally, assisting in its development into one of the nation’s leading federal prosecutors’ offices.
Eaton has more than 20 years of experience with the US Department of Justice. He was a former Deputy US Attorney for the Northern District of California (DOJ). He has also worked with the United States Army. Eaton has worked on files including classified operations, investigations, lawsuits, and policies. It also includes programs across federal and international law enforcement agencies in the United States.
Crypto Task Force
The Northern California United States Attorney’s Office, in collaboration with IRS-Criminal Investigations, has quickly risen to the top of the country’s investigations and prosecutions. They’re after criminal organizations that use blockchain and crypto technologies.
Eaton’s effort has aided the expansion of this organization, with several members already joining Binance. Tigran Gambaryan and Matthew Price have already made the transition from government duty to the crypto sector by joining Binance.
Binance is in the midst of a global expansion campaign. They are looking to expand throughout the Middle East and North Africa, as well as South America and France. Binance, and in particular its CEO CZ, came under fire for failing to take greater action against Russian users of the platform in light of global sanctions.
While busy, Binance was recently victorious in a legal battle. Plaintiffs’ claims were dismissed by a federal judge. The exchange traded unregistered tokens after failing to register as an exchange or broker-dealer.
All of this is to imply that as blockchain technology matures on a larger scale, the area becomes more scrutinized. Even the Securities and Exchange Commission (SEC) in the United States has taken attempts to strengthen its crypto-focused enforcement branch. As a result, it’s only natural that exchanges like Binance take steps to eliminate blindspots.
