Binance.US appoints Manuel Alvarez as Chief Administrative Officer

Karthik Subramanian

Binance.US, a leading digital assets marketplace, has announced the appointment of Manuel Alvarez as the Chief Administrative Officer effective from July 22, 2021.

He will be overseeing some of the major control functions like compliance, risk, and legal. Till recently, he was the Commissioner of the California Department of Financial Protection and Innovation. He was appointed to this position in 2019.

“We are thrilled to welcome Manny to Binance.US as we continue to bolster our organization with accomplished senior professionals,” said Brooks, CEO of Binance.US. “Manny is a highly respected senior government official and business executive with deep expertise in financial services regulation and technology. Compliance is the key to creating trust with both our customers and our regulators, which is why we are hiring recognized leaders in the field such as Manny. He is that rare brilliant regulatory mind with a strong sense of law and compliance who also brings a strong technology and Silicon Valley perspective. He was General Counsel and Chief Compliance Officer of the point-of-sale lending platform Affirm, where he helped build the company in the years leading up to its successful IPO earlier this year. Manny left Affirm to answer the call to public service leading one of the most important financial regulatory agencies in the country. Manny’s leadership will be instrumental as Binance.US seeks to fulfill our vision of serving as the most beloved and dependable destination for cryptocurrency in America. It is a huge honor that Manny is joining us.”

Before his job as the Commissioner, Manuel served as the General Counsel, Chief Compliance Officer, and Corporate Secretary at Affirm Inc. He has wide experience working with the government in the legal and compliance fields and this would come in very handy for Binance.US when dealing with the regulatory and legal authorities in the US. We had recently reported that FCA had stopped Binance from doing business in the UK as it did not have a license while the company continues to face issues with legal authorities over allegations of tax evasion.

It will also help the company to streamline its legal and compliance processes as the crypto industry continues to mature and the exchanges and other financial firms continue to learn on dealing with an evolving ecosystem and how best they can cooperate with the authorities as well as its users to bring in trust and reliability.

 

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