Binance US has hired Krishna Juvvadi as Vice President and head of its legal team. The official of Indian origin previously served as a litigator at the US Department of Justice (DoJ) and as global head of operational compliance at Uber. The news of Juvvadi’s appointment to Binance US’ legal team comes days after parent company Binance Global posted 42 vacancies in its legal team in several parts of the world. The company’s CEO, Chengpeng Zhao, launched Binance US in 2019 to help the crypto community that is thriving in the United States.
The company published an official blog post on Thursday, May 19 to introduce Juvvadi as the head of its legal team.
“In this role, Krishna oversees the day-to-day operations of the company’s legal department, helping to support the organization’s continued growth and drive its efforts to become the most compliant digital asset platform in the United States. He reports to Norman Reed, General Counsel of Binance US,” Binance US said in the post.
Recently, Binance has set itself the goal of bagging operating licenses in as many countries as possible. CEO Zhao aims to make Binance the most licensed crypto exchange in the world.
To achieve this, the company is focused on strengthening its legal teams in different parts of the world to ensure that its operations there comply with the laws of the country.
“We recognize the importance of responding to and complying with evolving rules and regulations for the crypto ecosystem, and we will continue to attract and invest in top legal and compliance talent to ensure that this priority continues to be at the forefront of our operations,” said Brian Shroder, CEO of Binance USA.
At a time when the US government is accelerating its research into crypto laws, Binance US is focused on building its presence in different states of the country.
On April 6, Binance US closed its first-ever external funding. After raising over US$200 million (approx. Rs.1,525 crore) from various investors such as Circle Ventures, it has reached a valuation of US$4.5 billion (approx. Rs.34,322 crore).
Earlier this month, Binance US officially received approval to operate as a money transmitter in Puerto Rico. Binance Global’s US-focused subsidiary also has similar licenses in other American states such as Wyoming, Connecticut, and West Virginia.
Binance is currently hiring legal staff in Israel, Canada, UK, Portugal, Spain, Italy, Hong Kong, Singapore and other regions in Asia Pacific, Europe, Middle East, Africa and Latin America.
Assembling a strong legal team is also Binance’s way of ensuring customer protection from unethical companies, according to company spokeswoman Jessica Jung.
https://gadgets360.com/cryptocurrency/news/binance-us-ropes-in-doj-official-indian-origin-chief-legal-team-2993334 Binance US Ropes-In Ex-DoJ Official of Indian Origin as Lead, VP of Legal Team