Binance’s counter-terrorism advisor exits after simply two months
Main international crypto trade Binance not too long ago skilled a notable departure with Jennifer Hicks resigning from her place because the agency’s first anti-terrorism monetary advisor.
Hicks, who beforehand labored as a cybercrime investigator at Chainalysis and has a background within the U.S. Navy, joined Binance as Senior Supervisor of Intelligence and Investigations in late 2021, in response to her LinkedIn profile.
The appointment of Hicks to the place was seen as a key step in Binance’s efforts to fight monetary terrorism. Nevertheless, merely two months after her promotion, she has left the corporate.
Hicks’ departure is a part of a broader development of high-level exits at Binance, together with the product supervisor, chief enterprise officer, normal counsel, and head of the Asia-Pacific area.
One other important exit is that of Stéphanie Cabossioras, the Managing Director of Binance’s French unit.
These departures come at a difficult time for Binance, which is dealing with stringent regulatory hurdles worldwide. The corporate’s plan to determine a European hub in Paris, a mission carefully related to Cabossioras, now appears unsure.
The latest focus within the U.S. on the potential use of cryptocurrencies in financing terrorism has intensified, notably following a report suggesting that Hamas and different militant teams might have amassed important crypto funds earlier than an assault on Israel.
This improvement, occurring throughout Hicks’ tenure at Binance within the U.S., has led to calls from American legislators for President Joe Biden to shed extra gentle on the extent of Hamas’s engagement with cryptocurrency.
Senator Elizabeth Warren additionally weighed in on the problem, stating:
“The hazard of crypto-financed terrorism is actual and ought to be an pressing precedence for Congress. There’s a rising bipartisan coalition of senators who’re dedicated to passing this invoice and preventing again towards terrorism worldwide by choking off the financing.”
Elizabeth Warren, U.S. Senator.
In response to the report, blockchain forensics agency Elliptic clarified that the extent of crypto fundraising by terrorist teams may need been overstated.
Regardless, the implementation of know-your-customer (KYC) and counter-terrorism protocols by crypto exchanges, particularly Binance, has garnered heightened consideration up to now yr as buying and selling platforms have been extra closely scrutinized by regulators, principally in america.
