by attorney John Deaton, Reed was heavily involved in the 2015 settlement between Ripple and the U.S. Department of Justice, which classified Ripple-linked XRP as a"convertible virtual currency."
His move to Binance.US is seen by some experts as a potential positive development for the beleaguered exchange, even as others express caution., Reed's role in the 2015 settlement indicates that he brings a deep understanding of regulatory compliance to Binance.US."I've always maintained that the SEC and the U.S. Government knew more about Ripple than any other company involved in Crypto," Deaton said, suggesting that Reed's expertise could benefit Binance.
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