Binance.US Appoints Lesley O’Neil as New Chief Compliance Officer

Last Updated:
Binance Releases 29th Proof of Reserves, Reveals Asset Reserves of July
  • Binance.US appoints Lesley O’Neil as CCO to spearhead compliance efforts.
  • The new executive will lead KYC and AML programs within Binance.US. 
  • Lesley previously served as CCO at Prove and held roles at Ernst & Young and Bloomberg LP.

Binance.US, the U.S. subsidiary of the largest cryptocurrency exchange, Binance, has appointed Lesley O’Neil as its new Chief Compliance Officer (CCO), according to a January 4 blog post on the crypto exchange’s website. 

As noted in that announcement, Lesley will lead Binance.US’s charge to ensure regulatory compliance in its operations. The newly appointed executive will spearhead compliance efforts such as Know Your Customer (KYC), Anti-Money Laundering (AML), and sanctions programs. 

Lesley’s appointment follows a 2023 marked with regulatory challenges for the crypto exchange, especially in the US. Towards the end of last year, Binance co-founder and former CEO Changpeng Zhao vacated his seat and pleaded guilty to anti-money laundering violations. The CEO and Binance also agreed to a $4.3 billion deal with prosecutors.

With the regulatory troubles yet to cease, the crypto exchange said Lesley’s 15 years of experience will aid its bid to be more compliant. Prior to the Binance appointment, Lesley served as CCO at Prove Identity, Inc., a digital identity verification for financial service providers. She also previously worked at Ernst & Young, Milbank LLP, and Bloomberg LP. 

In a statement, Norman Reed, Interim CEO of Binance.US, said, “Lesley is an expert in the fraud and identity space with a proven track record of developing and overseeing robust compliance and legal functions.” The CEO further remarked: 

Her experience partnering with crypto companies to enhance their AML and KYC processes at Prove, as well as her work in traditional financial services at Ernst & Young, will be exceptionally valuable as we continue to uphold the highest standards of compliance, safety, and security on our platform.

Last year’s regulatory troubles significantly affected Binance’s giant market share as investors scampered away on fears of another institutional collapse. While the crypto exchange continues to lead in crypto trade volume, other platforms have picked up considerable market share. Meanwhile, a second attempt from Changpeng Zhao to leave the United States was denied in late December. Prosecutors want the troubled billionaire to remain in the country until his sentencing, due to happen sometime this year.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.