Binance are stepping up their compliance measures with new partnership

  • 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

 

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