The worlds largest crypto exhange by trading volume- Binance- has collaborated with blockchain security firm CipherTrace to enhance the standard of its anti-money laundering (AML) compliance procedure in order to meet the requirements of financial regulators around the world, CRYPTOSLATE reported.
Binance's chief compliance officer- Samuel Lim- said:
"This partnership will bolster our existing world-class AML compliance program and help us expand into new markets in the most compliant fashion."
According to CRYPTOSLATE, Binance's endeavour to raise the standard of its AML compliance procedure could encourage institutions to invest in cryptocurrencies and enhance its crediblity among financial regulators throughout the world.
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