Binances new CEO said the cryptocurrency exchange is a more mature company now.

Speaking with CNBC Tuesday (April 9),Richard Tengacknowledgedconcernsraised by theU.S. Department of Justice which fined Binance $4.3 billion last year over the companys better to ask for forgiveness than permission ethos.

In those very early stages of development Binance was operating in a certain fashion, Teng told CNBCs Arjun Kharpal at the Paris Blockchain Week crypto conference. But we have moved past that. As the company moves into greater maturity, we are looking at sustainability. The direction of travel now is very clear toward much more compliance, which is why were building up a very robust compliance program.

Binance agreed topay the finein November to settle a case brought by the federal government. Former Binance CEOChangpeng Zhaopleaded guilty to failing to establish proper money laundering controls and agreed to resign from the company. He is due to be sentenced in three weeks and could face up to 18 months inprison.

The plea deals marked the conclusion of a lengthy investigation into the worlds largest crypto exchange.

Prosecutors said that Binance under Zhao had prioritized Binances growth over compliance with U.S. law, CNBC reported.

U.S. authorities also accused Binance of permitting transactions between users in the U.S. and those in jurisdictions that were under American sanctions, per the report.

Meanwhile, Binance is contending with legal issues in other countries, such as Nigeria, where its head of financial crime compliance,Tigran Gambaryan, has been charged withtax evasionand money laundering.

Gambaryan, who is a U.S. citizen, has beendetained in Nigeriasince arriving in the country last month after the government said Binance was operating there illegally.

He was taken into custody along with another executive, Nadeem Anjarwalla, a British-Kenyan who is Binances regional manager for Africa. Anjarwallaescaped custodyand fled Nigeria in March. Binance has said Gambaryan was not responsible for any actions by the exchange, as he had no decision-making power in the company.

Both Gambaryan and Anjarwallasuedthe Nigerian government last month, accusing the countrys national security advisor, Nuhu Ribadu, and the Economic Financial Crimes Commission of violating their fundamental human rights. The executives have asked the Federal High Court to order the agencies to release them, return their passports and apologize publicly.

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Binance Is Building 'Robust Compliance Program,' CEO Says - PYMNTS.com