Binance, a leading crypto-asset trading platform, has hired an experienced IRS employee to manage suspicious activity reporting (SAR).
Binance continues to strengthen its regulatory compliance front. The platform’s latest move in this regard was to recruit Amjad Qaqish, a former criminal investigation special agent at the U.S. Tax Administration (IRS). The news was announced on Friday.
Qaqish has a 30-year history in IRS fraud, tax evasion, money laundering and terrorism financing cases, including crypto. Qaqish’s job will be to monitor suspicious activity to prevent abuse of the cryptocurrency market.
Binance received warnings from the financial regulators of many countries in the past months, and in response to these warnings, it either terminated or restricted its activities in these countries. Binance has also recruited many senior officials from private and public institutions to stay true to the regulatory framework. Binance recently appointed Tigran Gambaryan and Matthew Price, also former IRS employees, as vice president and senior investigative director for global intelligence and investigations. It also last month hired Mark McGinness from Dubai Financial Services Authority as its first regulatory liaison.
