{"id":23824,"date":"2023-10-19T06:38:28","date_gmt":"2023-10-19T06:38:28","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/binance-france-director-resigns-adding-to-list-of-exits-from-crypto-exchange\/"},"modified":"2023-10-19T06:38:31","modified_gmt":"2023-10-19T06:38:31","slug":"binance-france-director-resigns-adding-to-list-of-exits-from-crypto-exchange","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/binance-france-director-resigns-adding-to-list-of-exits-from-crypto-exchange\/","title":{"rendered":"Binance France director resigns, adding to list of exits from crypto exchange"},"content":{"rendered":"

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St\u00e9phanie Cabossioras has stepped down from her role as the executive director of Binance France, becoming at least the 10th senior executive to leave Binance this year.<\/p>\n

In an Oct. 19 post on X (formerly known as Twitter), Binance France President David Prin\u00e7ay confirmed Cabossioras\u2019 departure and expressed his gratitude for her work at the exchange. <\/p>\n

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Nous remercions St\u00e9phanie pour sa forte contribution \u00e0 Binance France et lui souhaitons le meilleur pour son prochain d\u00e9fi.<\/p>\n

\u2014 David Prin\u00e7ay (@davidprincay) October 18, 2023<\/a><\/p><\/blockquote>\n

\u201cWe thank St\u00e9phanie for her strong contribution to Binance France and wish her the best for her next challenge,\u201d wrote Prin\u00e7ay.<\/p>\n

Cabossioras first joined Binance in April 2022, acting as head of legal at the French arm of the crypto exchange, before being promoted to Executive Director in November the same year. <\/p>\n

A spokesperson from Binance told Cointelegraph that its French-based operations continue to grow and that Cabossioras’ departure had “no impact on its operations.\u201d<\/p>\n

Before joining the crypto exchange, Cabossioras was the General Counsel at Autorit\u00e9 des march\u00e9s financiers, the organization responsible for much of the financial regulation in the Canadian province of Quebec. <\/p>\n

Related: <\/em><\/strong>Middle East regulatory clarity drives crypto industry growth \u2014 Binance FZE head<\/em><\/strong><\/p>\n

Binance\u2019s France arm fell under local investigation in June, with the Paris Prosecutor\u2019s Office citing \u201cacts of aggravated money laundering\u201d among a litany of other charges as the basis for the investigation.<\/p>\n

With her departure, Cabossioras adds her name to a roster of at least 10 senior executives to leave Binance over the course of this year alone.<\/p>\n

On July 6, three executives announced their respective departures, including; chief strategy officer Patrick Hilman, general counsel Han Ng and Steve Milton, Binance\u2019s global vice president of marketing and communications.<\/p>\n

Binance CEO Changpeng \u201cCZ\u201d Zhao addressed these departures on July 7, describing them as normal parts of his company\u2019s evolution, while dismissing reports on them as FUD, an acronym that stands for; \u201cfear, uncertainty and doubt.\u201d<\/p>\n

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4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the \u201cnews\u201d are completely wrong.<\/p>\n

As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world\u2019s largest crypto exchange in less than 5 months\u2026<\/p>\n

\u2014 CZ Binance (@cz_binance) July 6, 2023<\/a><\/p><\/blockquote>\n

Binance\u2019s legal woes have only worsened following a number of high profile lawsuits made against it by regulators in the United States. In March, the Commodities Futures Trading Commission sued Binance, CZ and their affiliates for an series of alleged trading violations. <\/p>\n

In June, the Securities and Exchange Commission launched legal proceedings of their own, suing CZ, Binance, and its affiliates for allegedly operating as unregistered securities broker, among other charges. <\/p>\n

Magazine: <\/em><\/strong>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong><\/p>\n