In its latest statement, Binance said it expects its full-time compliance team to reach 645 by the end of 2024, up 34% from November. Including contractors, there are now more than 1,000 employees focused on compliance. Noah Perlman, Binance's chief compliance officer, said the crypto industry has entered a new phase of maturity, with regulatory compliance becoming a fundamental standard for user experience and protection, business success and responsible growth. The latest additions to compliance include Todd McElduff, former head of PayPal's global financial crimes oversight unit, and Céline Inial and Caner Akyürek, special investigations specialists from French and Turkish law enforcement with nearly 20 years of experience. In 2023, Binance's compliance spending increased by 36% year-on-year.