Binance, the largest crypto exchange by trading volume, has published a new job posting, hinting at its plans to hire a policy officer for its European operations. The policy officer will develop new policies, standards, guidelines, and procedures for Binance in compliance with local regulations. Binance also expects the potential candidate to have the ability to articulate complex information clearly and persuasively. - The move came right after Binance faced increased scrutiny consecutively in several European countries.
- In mid-June, the firm confirmed that its offices were visited by French authorities after the regulators in the country started investigating Binance on allegations of illegally canvassing customers and severe money laundering.
- The popular crypto exchange was also recently ordered to halt its operations in Belgium by the country's financial market regulator, the Financial Services and Markets Authority (FSMA).
- Besides, the company halted its operations in the Netherlands after failing to register as a virtual asset service provider with the European country's regulator.
- Over the past months, the platform also withdrew from several other markets in Europe, including Cyprus and the U.K., to focus on the compliance issues ahead of the rollout of the European Union's (EU) region-wide crypto regulations, Markets in Crypto Assets (MiCA).
MiCA was officially signed into law by the EU in June after three years of development. - The provisions of the MiCA will come into force in 12 to 18 months, and the rules in the legislation will apply to all the 27 member states in the EU bloc.
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