Crypto exchange Binance has confirmed that its employees must adhere to a 3-month policy which prohibits them from performing insider trading.
The employees’ family members are also included in the policy. Since the FTX fiasco, Binance has been appearing in news headlines more frequently, as the company and CZ, its founder, are currently under the magnifying glass of regulators.
On the 10th of January 2023, there were talks of a certain employee policy on Twitter. Particularly, Binance apparently makes its employees adhere to a rule to prevent them from insider trading. The policy is apparently applicable to any rank within the employees. Binance workers must keep their positions for at least 90 days and they cannot take part in short-term trading for personal reasons.
According to a Binance spokesperson, the crypto exchange reportedly has no tolerance for insider trading or using information from the inside for profit by either employees or their family members. The same spokesperson declared that Binance has internal processes to prevent such events, which include a security team investigating internal affairs and holding those who perform such activities accountable.
Back in 2018, Binance supposedly had a similar policy in place, only that it incorporated a period of 30 days, not 90 as it currently does.