Binance partners with CipherTrace in latest KYC/AML compliance push

posted 5 months ago
Malta-based cryptocurrency exchange Binance is embarking on a multi-pronged push to boost compliance procedures across its platform. Binance’s new partner is blockchain analytics firm CipherTrace, in order to enhance anti-money laundering (AML) processes like tracing the source of on-chain funds and matching user IDs to problematic wallet addresses.

Samuel Lim, head of compliance at Binance said “We are very serious about improving our compliance standards. We will continue to build our [compliance] team, continue to re-invest in the compliance space.”
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