Binance.US provides update regarding enforcement matters, CZ
Following last week’s announcement regarding the settlement between Binance and the US authorities, Binance.US today provided an update to the community.
In a release, disseminated via social media, Binance.US claims it is not a part of last week’s resolution of enforcement actions. The company says that CZ has decided to step down from his role as Chairman of Binance.US’s Board of Directors.
The full announcement follows:
“We wanted to provide an update to the http://Binance.US community in light of last week’s news regarding CZ and http://Binance.com.
As you know, http://Binance.US was launched with the express purpose of serving United States customers in accordance with all U.S. rules and regulations. While we share a brand and industry-leading technology stack, we operate independently of http://Binance.com.
To that end, http://Binance.US is not a party to the settlements announced last week, nor do we have any outstanding enforcement matters with the DOJ, FinCEN, OFAC, or CFTC. We remain fully operational and are committed to continuing to serve our customers with the same products and services as we always have.
That said, as CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved in our governance.
We are exceptionally grateful to CZ for his guidance and counsel over the years. With his support, we have established http://Binance.US as a destination of choice of U.S. customers seeking a superior crypto trading experience.
So, now what? http://Binance.US continues to be led by Norman Reed and our existing, experienced management team. We are well capitalized to continue to build and grow our platform and to do so with renewed clarity and momentum, while maintaining the same customer first commitment. The team at http://Binance.US is as energized as we have ever been about the opportunity for our business and our mission to modernize and democratize the financial system”.