Binance.US Obtains Wyoming Money Transmitter License

Binance.US, a United States-based digital asset marketplace, announced on Friday that it had received a Money Transmitter License from the Wyoming Division of Banking.

According to the press release, Wyoming is Binance.US’s third state to receive a Money Transmitter License in 2022, following West Virginia and Connecticut.

With the help of its own and partner licenses, the company currently operates in 45 out of 50 states across the United States and offers some of the lowest fee structures available in the market, including easy access to more than 180 trading pairs and more than 80 token listings.

“We continue to prioritize compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and operational excellence, be it through building out our team or working closely with regulators on licensing and other initiatives. Wyoming and its crypto-savvy population have emerged as champions of blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology, and we are pleased to deepen our presence in the state with the support of the Wyoming Division of Banking,” Brian Shroder, the Chief Executive Officer of Binance.US, commented.

Recent Key Appointments

The announcement comes one month after the company appointed Tammy Weinrib today as the company’s Chief Compliance Officer. In her new role, Weinrib will provide high-level guidance on Binance.US’s compliance and regulatory strategies and engage with regulators and law enforcement agencies across the US.

Before joining Binance.US, Weinrib served as Vice President of the financial crime compliance group at Société Générale. Before that, she was Gemini’s Deputy Chief Compliance Officer.

“At Binance.US, we recognize the enormous responsibility that comes with handling our customers’ assets, and with that responsibility comes a need to ensure our company and industry are held to the highest standards of regulatory compliance,” Shroder added.

The hire comes as Binance has encountered scrutiny from regulators globally in recent months worldwide, including Japan and the US. The US SEC is currently investigating the ties of Binance.US, with two of its affiliate market makers (Sigma Chain AG and Merit Peak Ltd).