- The world’s largest crypto exchange by trading volume, Binance, announced a new partnership with CipherTrace.
- Binance are keen to step up their compliance and ensure they are in line with relevant regulations.
Binance, the world’s largest crypto exchange by trading volume announces a partnership with a blockchain security company. The crypto exchange took the decision to team up with a Silicon Valley-based blockchain forensics firm CipherTrace.
Their goal of the partnership is to press the organization forward with bettering their position around compliance and regulations. It should allow Binance to abide by existing anti-money laundering framework, in addition to any other crypto-specific legislation that will come to surface in the future.
Binance’s Chief Compliance Officer, Samuel Lim said the following upon the announcement:
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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.