Binance’s Yi He: SEC Battle & Relationship With CZ

• Binance’s Yi He has spoken out as the company begins legal battles against two top market regulators in the United States.
• He spoke to Bloomberg and struck a conciliatory tone with such regulators but still thinks their actions are misguided.
• The company published a blog post outlining the lengths to which it tries to remain legally compliant worldwide.

Binance’s Yi He Speaks Out on SEC Battle

Binance’s lowkey profile is one of the most powerful women in crypto, as well as the mother of CZ’s children, Yi He, recently spoke out about her company’s legal battle against two top U.S. market regulators – The Securities and Exchange Commission (SEC) and The Commodities and Futures Trading Commission (CFTC). In an interview with Bloomberg, He expressed respect for regulator’s „attitude“ and „intentions“, yet maintained that if Binance isn’t compliant than no other global trading platform or offshore company is either.

Binance Tries to Remain Legally Compliant Worldwide

In response to these lawsuits, Binance publicly outlined its efforts to remain legally compliant worldwide via a blog post on Thursday. This includes employing “750 core and supporting compliance staff” from its 8,000-person workforce across the globe. The post also states that all customer deposits are stored securely offline through cold storage technology managed by multi-signature hardware wallets, so as to protect customers‘ funds from cybercrime or hacks. Additionally, it has set up local offices in many countries where it is licensed by financial authorities such as Malta Financial Services Authority (MFSA), Estonia Financial Intelligence Unit (FIU), Taiwan Financial Supervisory Commission (FSC) , among others.

Relationship between CZ & Yi He

Yi He has had children with Binance CEO Changpeng Zhao (CZ) since 2013 when she joined his team at OKCoin before they both moved over to found Binance together three years later in 2016. She also serves as one of the company’s early shareholders and boasts a massive fortune from her holdings within the top crypto exchange platform.

Compliance Risk Management for All Customers

The exchange giant is also focused on compliance risk management for all customers globally while continuing its mission “to provide reliable digital asset exchange services for people around the world” . With more than 15 million registered users across 200 countries worldwide who have already conducted over $700 billion worth of transactions , Binance will continue its efforts in achieving global compliance while protecting user data privacy and security through multiple levels of encryption , biometrics authentication , multi-factor verification , IP whitelist restriction , etc .

Conclusion

Binance continues its commitment towards becoming a secure cryptocurrency platform for users around the world by prioritizing regulatory compliance in different jurisdictions . Despite facing charges from some powerful regulators like SEC & CFTC , they have sought out ways to work together in order to bridge gaps between themselves without having any impact on their users .