Binance blocks and suspends user for using privacy focused Wasabi wallet

posted 3 months ago
Late last week, Binance's Singapore arm allegedly suspended one user’s account. The problem? That user, @bittlecat, had tried sending their bitcoin to the hash-scrambling Wasabi wallet in an apparent violation of Binance SG's AML policies. Binance SG refuses to transact “directly or indirectly [with]...mixer sites,” according to @bittlecat’s tweets of their email exchange with Binance SG support.

@bittlecat’s suspension was temporary. But,
“I think the exchanges are slowly coming to a crossroads,” said Gergely Hajdu, a developer with Wasabi wallet. One path of this "fork" in the road is towards local regulators and global watchdogs guidance like the Financial Action Task Force (FATF). The other direction: privacy-conscious users, some of whom turn to coin mixing services to protect what they hold.

Tags: bitcoin, blockchain, news