Binance Holdings Ltd. has hired two senior compliance executives from Crypto.com as the exchange bolsters ranks in that department after a number of staff departures and ongoing regulatory scrutiny.

Antonio Alvarez, who until recently had been running Crypto.com’s compliance operation, will soon join Binance as deputy to its chief compliance officer, Noah Perlman, Binance said.

The move comes as Binance faces continued regulatory challenges and aims to strengthen its compliance team. The hiring of experienced executives from a major competitor highlights the exchange's commitment to enhancing its regulatory posture.