Former SEC Enforcement Co-Director Joins Binance.US Legal Team
Former SEC Enforcement Co-Director, George Canellos, Joins Binance.US Legal Team Alongside Three Other Lawyers from Milbank LLP
Binance.US, the U.S.-based arm of the popular cryptocurrency exchange Binance, has expanded its legal team by recruiting four lawyers from Milbank LLP. Notably, among the new hires is George Canellos, a former co-director of the Securities and Exchange Commission’s enforcement division.
Canellos brings extensive experience to the team, having overseen a team of approximately 1,300 attorneys at the SEC. Prior to his role at the SEC, he served as the chief of the major crimes unit at the U.S. Attorney’s Office in the Southern District of New York, as reported by Bloomberg News.
This development comes at a time when Binance is facing legal challenges, including a recent lawsuit filed by the regulatory authority. The addition of Canellos and the other experienced attorneys suggests that Binance.US is proactively bolstering its legal defense team in anticipation of potential criminal prosecution. John Reed Stark, a former SEC Office of Internet Enforcement Chief, shared his observation on Twitter, stating that Binance is making clear preparations by hiring some of the finest defense attorneys globally.
Alongside George Canellos, Binance.US has further expanded its legal team by welcoming Adam Fee, Matthew Laroche, and Andrew LeBlanc, who also join from Milbank LLP. However, at the time of writing, the firm has not responded to The Block’s request for comment regarding this development.
The Securities and Exchange Commission (SEC) filed a lawsuit on June 5, asserting serious misconduct and legal violations by Binance.US. The regulatory body contends that these alleged infractions warrant a ban on the company’s operations within the country, raising significant legal implications for Binance.US.
Also Check: Binance US Pauses USD Deposits and Withdrawals, Requests Users to Withdraw Dollars by June 13
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