Binance Recruits Ex-IRS Agents to Help With Compliance Push

Cryptocurrency exchange Binance announced it has hired a pair of former IRS Special Agents to help with compliance. 

The world’s largest crypto exchange, Binance, announced that it has hired former IRS agent Tigran Gambaryan to join its ranks. For the last decade, Gambaryan worked as a special agent for the IRS’s Criminal Investigation Cyber Crimes Unit (IRS-CI) headquartered in Washington. During that time, Gambaryan took part in several high-profile investigations including the Mt. Gox hack and the dismantling of Silk Road. 

According to the press release from Binance, Gambaryan took part in investigations pertaining to “national security, terrorism financing, identity theft, distribution of child pornography, tax evasion, and bank secrecy act violations.”

Binance also announced that a second former IRS special agent Matthew Price was hired as the senior director of investigations. Price brings more than a decade of law enforcement experience and was a former agent with the IRS-CI as well. Price led international investigations in his time with the IRS that targeted “bad actors who sought to exploit cryptocurrency for illicit purposes.”

Helping Binance work with regulators

Gambaryan will be working alongside the team’s current Chief Security Officer Jimmy Su. Together they will be responsible for the audit and investigations team that focuses on preventing threats, both foreign and national. The team will work closely with state and federal law enforcement agencies and regulators to prevent threats leading to financial losses. 

In a statement, Gambaryan said that “We will work closely with our colleagues in compliance to identify criminals and refer them for prosecution. The constantly evolving crypto industry requires strong cooperation between the industry, law enforcement, and regulators. Our goal is to increase trust in cryptocurrency by establishing Binance as the leading contributor in the fight against human trafficking, ransomware, and terrorism financing.”

He added that it’s one of his goals to educate the law enforcement community on a global scale on how Binance “is a partner in the fight against the illicit use of cryptocurrency, keeping the ecosystem more secure and moving it forward sustainably.”

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