Binance to expand staff amid regulatory problems in Europe

The cryptocurrency exchange Binance is seeking new staff amid recent regulatory troubles in Europe.

The company posted a advertisement for hiring. According to it, the exchange is seeking a staffer for European policy matters.

It will be tasked with developing new policy standards for the firm and “analyzing existing procedures” to identify and address their shortcomings.

The company is also seeking a Chief Compliance Officer in Thailand and an Assistant Director of Government Affairs in Spain, according to The Block.

Binance has withdrawn its applications for licenses in the United Kingdom, Austria, Cyprus, announced its withdrawal from the Netherlands. In addition, the Belgian Financial Services and Markets Authority obliged the company to cease operations in the country.

Earlier reports indicated that German authorities would refuse the firm a crypto custodian license.

As reported, regulatory pressure on the crypto exchange began after a lawsuit by the U.S. Securities and Exchange Commission.

On July 5, word emerged of raids at Binance’s Australian office. Bloomberg reports that this was conducted as part of an investigation into derivatives.