Post by account_disabled on Mar 6, 2024 6:26:58 GMT -5
Binance has launched a series consisting of six videos dedicated to our compliance experts and their opinions on various topics.
In the fourth video of this series, we will learn about the complex challenges facing the compliance team.
The Binance compliance team has grown significantly over the years and works tirelessly to make the world of cryptocurrency safer and more user-centric. However, it's no bed of roses: the compliance team faces numerous challenges on a daily basis. In the fourth video of this series, our compliance experts will tell us about the obstacles they face in their work.
In this week's video, Matt Price, international director of intelligence and investigations, highlights that the biggest challenge is that there is always something new in this sector. The cryptocurrency sector is evolving very quickly, so Matt's team has to work very diligently to keep up to date with the latest developments in this relatively new technology, as well as the new methodologies used by those looking to take advantage of it. The great thing about working at Binance is that Matt's team collaborates closely with the people who create blockchain products and services, including blockchain experts. Matt works closely with many teams at the forefront of blockchain technology.
Steve Christie, Chief Compliance Officer Ecuador Mobile Number List at Binance, says the biggest challenge is the fluid and constantly changing nature of laws and regulations, as well as their interpretations by regulators around the world. Regulators, legislators and government authorities are grappling with the management of a completely distributed and permissionless technology that Bitcoin and cryptocurrencies represent. And what we see is a lack of coherence, which results in an uneven playing field.
Also featured in this week's video is Tigran Gambaryan, director of compliance for financial crime prevention. Tigran says that he loves his job and that he has an amazing team, but that the work is, of course, demanding. The work his team does has a direct impact on the real world, something that motivates and drives Tigran. As he tells us, sometimes it can be difficult to maintain balance. However, Tigran mentions that he knows that his team's efforts have a huge impact, just like when he worked in law enforcement. That's what keeps Tigran going. However, one of the obstacles he faces is regulatory clarity. Tigran believes that has been and will continue to be a problem. There is a lack of uniformity between different jurisdictions and sometimes even within the same jurisdiction and agencies. There needs to be more regulatory clarity so that people like Tigran can carry out their important work more effectively.
Stay tuned so you don't miss new videos in this series next week!
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