Binance taps former central bank exec to push compliance in CIS and Russia

Binance,
the
world’s
largest
cryptocurrency
exchange,
is
putting
more
effort
into
increasing
compliance
in
the
Commonwealth
of
Independent
States
(CIS),
Russia
and
Ukraine.

Binance
is
planning
to
extend
its
operations
in
the
region
and
boost
local
cryptocurrency
compliance
and
education,
Gleb
Kostarev,
head
of
operations
for
Russia
and
the
CIS
at
Binance,
told
Cointelegraph
on
Tuesday.
The
company
additionally
expects
to
focus
on
the
local
Binance
Smart
Chain
development
and
community,
he
noted.

As
part
of
the
effort,
Binance

announced

several
local
hires,
including
Olga
Goncharova,
Binance’s
new
director
of
government
relations
in
Russia
and
the
CIS.

Goncharova
previously
served
at
the
Bank
of
Russia
as
director
of
the
bank’s
report
processing
department
from
2014.
She
was
responsible
for
processing
financial
statements
from
companies
under
the
central
bank’s
supervision,
also
leading
several
Bank
of
Russia’s
projects
related
to
fintech
and
digital
transformation.

“Binance
places
a
great
emphasis
on
regulation
and
compliance
in
jurisdictions
of
operation.
Binance’s
unique
community,
cutting-edge
technology
and
innovative
approach
to
work
give
Binance
great
opportunities
for
further
development,”
Goncharova
said.

Vladimir
Smerkis,
co-founder
of
cryptocurrency
platform
Tokenbox,
has
also
joined
Binance
as
director
of
Binance
Russia.
Other
new
regional
hires
include
former
BNP
Paribas
executive
Kirill
Khomyakov,
who
will
act
as
general
manager
of
Binance
Ukraine.

“With
a
proven
track
record,
the
new
executives
will
certainly
have
a
positive
impact
on
Binance’s
growing
presence
in
Russia,
Ukraine
and
Eastern
Europe,”
Kostarev
said.



Related:




Bank
of
Russia
to
allow
crypto
investment
via
foreign
firms

The
latest
news
marks
a
significant
strategic
move
by
Binance
as
the
region
has
been
increasingly
emerging
as
one
of
the
world’s
biggest
crypto
spots
and
mining
centers.

Kazakhstan,
a
major
CIS
member
state,
is
the
second-biggest
Bitcoin
(BTC)
mining
country
after
the
United
States,
responsible
for

18%
of
the
total
Bitcoin
hash
rate

as
of
October
2021.
Trailing
Kazakhstan,
Russia
produces
11%
of
the
entire
global
BTC
mining
hash
rate
and
is
the
third-largest visitor
of
Binance’s
website,
according
to
data
from
SimilarWeb.

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