Binance increases KYC measures, partners with IdentityMind

posted 7 months ago
The world’s largest cryptocurrency exchange, Binance, partnered with IdentityMind of Medici Ventures to “improve existing data protection and compliance measures” for Binance’s global operations. IdentityMind provides cryptocurrency exchanges a “real-time” platform to comply with know-your-customer (KYC) and anti-money laundering (AML) regulations worldwide.

The startup helps cryptocurrency exchanges with client onboarding, transaction monitoring and case management solution. Binance has been making efforts to raise its compliance game. Back in October, the exchange partnered with cryptocurrency investigation software provider Chainalysis to monitor cryptocurrency transactions in real-time.
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