Binance COO Noah Perlman says monitoring agreement with U.S. regulators is now posing challenges for the exchange despite viewing the deal as an opportunity for improvement.
Binance‘s plea agreement with the U.S. Department of Justice, which includes an independent compliance monitor for three years, poses challenges for the exchange to expand its services globally, as the U.S. now acts as an “authorized referee,” according to Binance chief operating officer Noah Perlman.
Speaking at the Token2049 conference, Perlman emphasized the necessity of fostering constructive dialogue with regulators, saying “the key to great regulation […] is being open to collaboration.”
Addressing Binance’s settlement with the DOJ, the Binance COO noted the exchange now has to comply with enhanced requirements, given that the U.S. government now acts as the “imposed-and-authorized referee overseeing compliance” for the exchange.
