All levels of Binance's workforce were prohibited from trading for at least 90 days after starting their duties

Binance, a leading cryptocurrency exchange, has announced that employees at all levels will be prohibited from trading on the platform until at least 90 days after they begin their employment.

This policy is intended to prevent conflicts of interest and ensure that employees do not have access to insider information that could be used to profit from trades. The ban applies to all forms of trading, including buying and selling cryptocurrencies, and will be in effect for all new and current employees.

The company has stated that it is committed to maintaining the integrity of its platform and ensuring a fair and transparent trading environment for all users.

On January 10, it tweeted about Binance's employee policy on preventing insider trading, claiming that Binance employees at all levels would not be allowed to participate in personal short-term trading and must hold positions for at least 90 days.

Ref. Wu Blockchain on Twitter

A Binance spokesperson confirmed that the company has a policy of not allowing the use of inside information for profit to both employees and family members involved.

"All employees are suspended for 90 days for any investments they make, and Binance leaders are ordered to report any trading activity on a quarterly basis."

The spokesperson went on to say that the company has internal processes in place to stand up to these conditions, including internal protocols reviewed by the security team to control those involved in such behavior.

However, some netizens questioned how such a policy could be implemented. While others see it as reasonable.

Source Link:  TradingView News

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