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Binance.US, a separate exchange registered with the United States Financial Crimes Enforcement Network, has hired Manuel Alvarez as its chief administrative officer, Bloomberg reports. Prior to Binance.US, Alvarez served as Commissioner of the California Department of Business Oversight since May 2019.

He also served as the General Counsel, Chief Compliance Officer and Corporate Secretary at Affirm from 2014 to 2019.

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Binance.US Chief Executive, Brian Brooks, says the appointment shows the exchange's intention to be "on the front foot" of compliance and consumer protection.

"We will hire the very best talent, the very most-senior people to run those functions for us because we agree they are super important," he added.

Binance Bolsters European Compliance Team With Hire of Jonathan Farnell

Alvarez's appointment follows the regulatory scrutiny of international watchdogs over Binance. As iHodl earlier reported, Barclays, one of the largest British banks by assets, stopped wire transfers to Binance to help to keep user's money "safe." Shortly after, Binance suspended euro bank deposits via the Single Euro Payments Area.

However, Binance notes users can still buy cryptocurrencies via debit or credit cards. It remains unclear, what is the reason for the suspension of one of Europe's key payments networks.

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