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Former chief compliance and ethics officer at the Federal Reserve Bank of New York, Martin Grant, has joined the board of directors at Binance.US, as per Binances announcement.

Grant accumulated broad regulatory, legal, and compliance experience in exchange for being a part of the NY Fed from 2005 to 2022. Grant has also been named the Global Regulatory Affairs and Compliance Head at JST Digital, which has become a critical juncture for the U.S. crypto industry.

As the Interim CEO of Binance.US, Norman Reed states, Martin is a world-class legal and ethical compliance executive with unparalleled experience instituting best practices in compliance, conduct, and governance at the highest levels of government and financial services.

Grant said in the statement, The American digital asset industry is at an inflection point, and I am excited to help guide the future of one of the countrys most influential and customer-centric crypto platforms.

This development comes after Binances recent creation of its own board, with Gabriel Abed as the chairman, who is also a diplomat from Barbados to the UAE.

Previously, the former CEO of Binance, Changpeng Zhao, was the board chairman of Binance.US, but he resigned in November 2023 in the course of negotiations with the U.S. authorities.

Since the lawsuit by the SEC against Binance, Binance.US, and Zhao was filed in June 2023 for the alleged offer of unregistered securities, these three entities are still fighting the case.

Also Read: Binance CEO Addresses Compliance and Cultural Shift

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Binance.US Appoints Ex-NY Fed Chief to Board Director - Crypto Times