Binance, the global cryptocurrency exchange, has appointed Kristen Hecht to oversee compliance and Anti-Money Laundering initiatives, a move that comes amid escalating regulatory scrutiny that the exchange has been experiencing lately.

Hecht will serve as the new Deputy Chief Compliance and Global Money Laundering Reporting Officer, a role specially tailored to address the company’s current challenges with U.S. regulators, Binance announced on August 3.

Hecht’s appointment follows a series of recent departures from Binance’s legal and compliance departments, reportedly due to the strain of dealing with multiple investigations into the company’s practices. Binance has denied these allegations.

Hecht is a familiar face within the organization, previously serving as the global head of corporate compliance at the exchange for eight months. Her prior experience includes chief compliance officer at Meta’s Novi Financial and a role as a senior policy adviser for the U.S. Department of the Treasury.

In her new capacity, Hecht will focus on

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Author: Emily Tonelli

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