Kendall Day led the department’s anti-money laundering efforts, including handling charges related to money laundering, deferred prosecution agreement, etc.
Amidst its ongoing legal battle with the US Securities and Exchange Commission (SEC), cryptocurrency exchange Binance has hired The former white-collar attorney general at the Department of Justice (DoJ), according to a court filing on Thursday, June 22.
Kendall Day, a partner in the Washington, D.C. office of Gibson Dunn & Crutcher, will act as counsel to Binance in the SEC case. Previously, Day served 15 years as a former acting deputy assistant district attorney in the Department of Justice’s Criminal Division, as noted in his bio on the Gibson Dunn website.
While at the Department of Justice, Day served as Chief of the Money Laundering and Asset Recovery Division, responsible for overseeing anti-money laundering efforts across the country. This role involved handling cases related to money laundering, deferred prosecution agreements, and non-prosecution agreements involving financial institutions, as detailed on the Gibson Dunn website.
Earlier this month, the SEC accused Binance and its CEO Changpeng Zhao, and another Zhao-owned exchange, Binance.US, of mismanaging client funds, misleading investors and regulators, and violating securities rules. The SEC also required the return of cryptocurrency owned by US clients.
During his time at the Department of Justice, Day served as Head of the Money Laundering and Asset Recovery Division. In this role, Day was an authority across the country overseeing the department’s anti-money laundering efforts, including the handling of money laundering-related charges, deferred prosecution agreements, and non-prosecution agreements involving financial institutions. This information can be found on the Gibson Dunn Web site.
BinanceUS and the recent lawsuit from the SEC
Earlier this month, the US Securities and Exchange Commission sued Binance.US for allegedly violating securities laws.
Binance, its CEO Changpeng Zhao (CZ), and subsidiary exchange Binance.US are facing charges from the SEC for mismanaging client funds, misleading investors and regulators, and breaching securities rules. The SEC is also requiring the return of cryptocurrency owned by customers in the United States.
The exchange was under investigation by several US agencies, including the Department of Justice. Recently, Binance.US reached an agreement with the SEC that prevents Binance Global officials from accessing customer funds. Czechoslovakia expressed its satisfaction with the agreement in a tweet on June 17.
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Bhushan is a financial technology enthusiast with a good knack for understanding financial markets. His interest in economics and finance has turned his attention towards the new emerging Blockchain technology and Cryptocurrency markets. He is persistent in the learning process and keeps himself motivated by sharing the knowledge gained. In his spare time he reads fantasy and thriller novels and occasionally explores his culinary skills.