It is no secret to anyone who follows the crypto market that regulatory harassment is being subjected to Binance.

Exactly four months ago, in May, Binance recruited Mr. Brian Brooks to the position of CEO of the American Binance platform, as he has a good background in terms of laws and regulations in the United States of America.

A few hours ago, Brooks announced his resignation as CEO of American Binance Corporation.

Greetings # encrypt social communication. To let you all know that I have resigned from the position of CEOTweet embed. Despite the differences about the strategic direction, I wish my former colleagues a lot of success. Exciting new things are coming!

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– Brian Brooks (@BrianBrooksUS) August 6, 2021

As he posted this on his personal Twitter account, he did not explain much about the details, simply explaining that there are differences about the strategic direction of the platform.

Brooks emphasized that he held no grudges against the company and wished his colleagues the best for the future.

CZ, the CEO of Binance, issued an official statement after Brooks resigned, stressing that his departure will not affect users.

Brian’s work It has been invaluable and we hope it will continue to be an integral part of the growth of the crypto industry, championing the regulations that move our industry forward. We wish him all the best in his future endeavors.

– CZ 🔶 Binance (cz_binance) August 6, 2021

American Binance:

In a relatively surprising event, Brooks took over as CEO of US Binance, replacing Catherine Cooley, the woman who had worked so hard to put Binance in the spotlight in the North American market.

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After her replacement, Catherine Cooley remained in near-absolute silence, which some consider resentment and others wary in the face of potential legal action.

Brooks’ professional track record made him a gold candidate to lead Binance’s efforts to strengthen its position in the US market.

Binance is currently in the crosshairs of several regulators around the world claiming that it lacks a central office, and that it operates without a proper license.

The United Kingdom, Italy, Malaysia, Japan and Malta are examples of some countries that have issued warnings against Binance.

Binance repeats the same problems:

Differences in viewpoints seem to be a recurring theme among the platform’s top management, especially those responsible for managing the regional branches of Binance.

Just three weeks ago, the CEO of Binance Brazil publicly resigned after six months in charge.

In an open letter Spread On his personal account on LinkedIn, Ricardo da Ross, the former regional director of Binance Brazil, expressed that he had made the decision to leave the company due to professional differences with the company’s top management.

Da Ross did not provide further details about the expectations of Binance’s board of directors upon his appointment.

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But he confirmed that he would leave his post with peace of mind and satisfaction with his achievements.

Possible reasons behind resignations:

The resignation of “Brooks” from the position of CEO of Binance is still shrouded in some mystery, and the reasons may appear clearly after some time, and clarify the path of the American Binance.

As for the resignation of Ricardo da Ross, CEO of Binance Brazil, it may be due to the legal problems that Binance is facing in Brazil.

Although the Brazilian branch of Binance started its operations in 2019, it has not been without legal problems.

Perhaps the most significant obstacle was the ban imposed by the Brazilian regulator (CVM) on the Binance platform that supports derivatives trading in Brazil.

CVM Announcement Law No. 17961 of July 2, 2020, expressly prohibits Binance’s support for derivatives trading and therefore token trading has now ceased, which is a major blow to Binance.

The Brazilian Association of Crypto Economy, a group set up by the consortium of several local cryptocurrency exchanges in Brazil, has also accused Binance of operating illegally in the country.

So unfortunately, despite the progress made in the activity of Binance Brazil, Ricardo da Ros was unable to solve these problems in a manner favorable to Binance, which made him withdraw.

The problems around Binance are now more than ever, which shows the increase in global regulatory pressure, and the expansion of cryptocurrency and adoption.

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