Cryptocurrency change Binance has employed a former United States Internal Revenue Service agent to move its new intelligence division, a robust indication that the enterprise is trying to bolster its compliance resources.

Tigran Gambaryan joins Binance as vice chairman of world intelligence and investigations, the enterprise introduced Thursday. Binance is Gambaryan’s first private-quarter organization given that he joined the IRS as a unique agent in September 2011.

During his time on the IRS, Gambaryan investigated instances regarding countrywide security, terrorism financing, tax evasion and identification theft. He changed into additionally worried withinside the research of Silk Road, a darkish internet market that facilitated a number of the earliest cryptocurrency transactions. Silk Road changed into close down through the FBI in October 2013, with founder Ross Ulbricht arrested and ultimately sentenced to a double lifestyles sentence plus forty years without a opportunity of parole.

At Binance, Gambaryan can be tasked with accomplishing inner and outside investigations “to save you threats and monetary losses.” The audit and investigations crew may also paintings intently with regulation enforcement businesses and regulators.

Binance seems to be stepping up its compliance measures in reaction to regulatory upheaval from across the globe. The change has been compelled to droop operations and buying and selling offerings in numerous markets, such as Japan, the United Kingdom, Germany and the Canadian province of Ontario, for allegedly failing to conform with neighborhood licensing laws.

Related: Binance pushes returned in opposition to caution from South Africa regulator

More recently, Binance moved to dam fiat deposits and notice crypto buying and selling offerings in Singapore amid regulatory pressures. The change additionally ceased crypto futures and alternatives in Australia.