Binance Increases Anti-Money Laundering Procedures
Binance’s chief compliance officer Samuel Lim states that this latest partnership with the solutions provider will concentrate on Anti-Money Laundering (AML).
A month ago, the exchange also partnered up with blockchain analytics company CipherTrace, which focuses on AML, after the regulating authorities from Malta, the exchange’s headquarters, permitted its activities.
“The selection of CipherTrace as our on-chain security solution will augment our expansion drive and build greater trust among our users, regulators and financial institutions,” Lim stated regarding the partnership. He went on to say:
“This partnership will bolster our existing world-class AML compliance program and help us expand into new markets in the most compliant fashion.”
In addition to this, Binance got into another compliance related collaboration in March with risk management startup IdentityMind.
According to past reports, Binance is also looking to launch its own decentralized trading ecosystem called Binance DEX in the following months.
Featured Image: ICOnow
source: https://coindoo.com/binance-anti-money-laundering-procedures/
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Article comments