Binance.US, a leading U.S.-regulated cryptocurrency exchange, today announced that CZ has stepped down from his role as Chairman of the Board of Directors and transferred his voting rights through a proxy arrangement. CZ remains an economic investor in the company but will no longer be involved in its governance.
The company also reiterated its commitment to serving U.S. customers in accordance with all U.S. rules and regulations.
Last week, Binance.com agreed to pay fine to resolve criminal and civil charges brought by the U.S. Department of Justice (DOJ), the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Commodity Futures Trading Commission (CFTC) for violating anti-money laundering, sanctions, and derivatives regulations. Binance.US is not a party to any of these settlements.
“We remain fully operational and are committed to continuing to serve our customers with the same products and services as we always have,” said Norman Reed, CEO of Binance.US. “With CZ’s support, we have established Binance.US as a destination of choice for U.S. customers seeking a superior crypto trading experience.”
BinanceUS thanked CZ for providing guidance and counsel over the years to the team. CZ played an important role in establishing BinanceUS as a destination of choice for US customers seeking a superior crypto trading experience.
BinanceUS assures customers that they 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.
Also Read : CZ’s Exit from Binance: Is it the End of an Era or a Fresh Start?
