Recently Binance exchange did an investigation against illicit activities in full collaboration with the US Enforcement department.
Binance is the biggest crypto exchange of the crypto market by volume but because in this year, the exchange faced many scruinities issues by the global regulators. But it seems that Binance exchange is taking its step carefully.
In the very starting, when Binance faced scruinities issues then Binance exchange changed its place to operate the business but now the Exchange is ready to play games with the regulators, so that they can improve their reputation in the eyes of regulators.
Few days back, Binance Exchange shared a story about how they busted some money launderers under a collaborative investigation & research with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).
“… a Russia-based entity, Suex OTC, to its Specially Designated Nationals list. Together with the details of the company, 25 cryptocurrency addresses were listed. Make no mistake — this is a positive development for the industry and the millions of innovators, consumers, and investors across the globe that contribute to blockchain’s growth each day”
Binance Exchange is supporting the regulatory and enforcement department with its AI blockchain based tools to track the transactions. And trying to make the crypto community more clear against bad actors.
It is not the first time when Binance helped regulators and investigators. Already Binance helped US’s SEC authority in the Ripple lawsuit case. But Court said that no thank note for the Binance.