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Binance is committed to cleaning up financial Bitcoin Crime

Binance is compliant and adheres to local regulations and KYC

JANUARY 17, 2020 / 09:34 UTC

LONDON (Fintech Zoom)  – Bitcoin Crime – Over the course of 2019, criminal entities moved a total of $2.8 billion in Bitcoin to cryptocurrency exchanges, according to a Jan. 15 study from Chainalysis.

Fintech Zoom has published an article about Chainalysis Report, and you can read it : The importance of Crypto Exchanges for Bitcoin Money Laundering by Chainalysis   Bitcoin Crime

As the Binance and Huobi brand were prominent in this study, Fintech Zoom wanted to know if the brands, which were in any way targeted by this Report, wanted to add some comment.

Thus, we received from Samuel Lim – Chief Compliance Officer of Binance the following comment:

Binance is committed to cleaning up financial crime in crypto and improving the health of our industry. We will continue to improve on our proprietary KYC and AML technology, as well as the third-party tools and partners we work with, to further strengthen our compliance standards.


One of our core values at Binance is to protect our users, whether it’s improving platform security or halting suspicious transactions. We recognize our ongoing responsibility to ensure the integrity of our platform and safeguard it from bad actors, including any traders or brokers providing money-laundering services. As global capital flows into crypto, we are aware of the growing trend and movements of illicit funds, and we are working with like-minded partners such as Chainalysis to improve on existing systems and address these concerns.


In every jurisdiction that we operate in, Binance is compliant and adheres to local regulations and KYC requirements. We have built trust among regulators, financial institutions and the public through our developments and values, and we will continue to raise the bar in addressing AML compliance to the highest standard and across the largest asset coverage.”

We also highlight that recently Binance has publicly released the results of 2 Security Audits by FireEye and SlowMist that reflect the great transparency of information that exists in Binance to protect its users: Binance presents the results of 2 cybersecurity audits

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Also you can read here more information about Chainalysis – Bitcoin Crime

Note: We have not yet received Huobi’s announcement.

Judie Simms


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