Kenne Michael 
Former UK chief of Binance Jonathan Farnell has resigned from his position as a compliance specialist at Binance subsidiary Bifinity. This resignation is the latest in a string of executive departures from the company.
Binance UK Chief’s Resignation and Professional Background
According to corporate filings in the United Kingdom and his LinkedIn profile, Farnell resigned from Binance Markets Limited in late September. Prior to this, in June, he had departed a senior compliance position at Binance Europe.
The regulatory scrutiny of Binance has increased in both the United States and the United Kingdom.
Beginning in early October, the Financial Conduct Authority’s crackdown on crypto advertising prompted Binance to cease accepting new customers in the United Kingdom.
Farnell, who joined Binance in 2021 from eToro, played a significant role in the exchange’s efforts to attain regulatory compliance in the United Kingdom.
Position at Bifinity and FCA Intervention
Farnell was appointed CEO of Bifinity, a payments subsidiary launched by Binance, in March 2022.
He continued to serve as a director for Binance Markets Limited. Bifinity participated in a transaction targeted at the acquisition of Eqonex, Digivault’s parent company, by Binance.
However, the FCA intervened, expressing concerns about Binance’s UK subsidiary and issuing a statement about the transaction.
Farnell’s departure from Binance follows a string of executive departures.
In September, Gleb Kostarev, the regional head for Eastern Europe, the Commonwealth of Independent States, Turkey, Australia, and New Zealand, and Vladimir Smerkis, the general manager for the CIS region, resigned.
Since the summer, notable departures include Leon Foong, Patrick Hillman, and Han Ng, who, respectively, held the positions of head of Asia Pacific, chief strategy officer, and general counsel.