I recently read the profile of a newly appointed Binance's Compliance Officer, who is coming from TradFi. Like Richard Teng, Binance's new CEO, this appointment suggests that the company is taking a more traditional approach to compliance.

This is a significant shift for Binance, which has long been seen as a bit of a rogue in the crypto world. The company has been criticized for its lax KYC/AML policies and its willingness to operate in jurisdictions with little or no regulation.

However, in recent years, Binance has made a number of moves that suggest it is taking compliance more seriously. In 2021, the company hired Greg Monahan, a former U.S. Treasury official, as its global head of government relations. And in 2022, Binance announced that it would be working with Chainalysis, a blockchain analytics firm, to improve its KYC/AML compliance.

The appointment of a TradFi-experienced Compliance Officer for Bahrain is the latest in a series of moves that suggest Binance is taking compliance more seriously. This is a positive development for the crypto industry as a whole, as it will help to build trust and legitimacy with regulators and institutional investors.

However, it remains to be seen whether Binance is fully committed to compliance. The company has a long history of operating outside the lines, and it is possible that it will continue to do so in certain areas.

Is Binance's strategy now to be fully compliant with regulations?

I think it's too early to say for sure. But the recent moves by the company suggest that it is at least taking compliance more seriously than it has in the past. Only time will tell whether Binance is fully committed to compliance.