Binance Teams up With Chainalysis to Address Money Laundering

The world’s largest digital currency exchange operator, Binance, has teamed up with cryptocurrency investigation and compliance solutions Chainalysis to help address the challenges of money laundering in the cryptocurrency space and provide a solution for market regulators and financial institutions.

Chainalysis COO and co-founder Jonathan Levin said in a statement:

“Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance’s lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.”

He explained that the company’s generically developed compliance software, Chainalysis KYT (Know Your Transaction), r…

This article appeared first on Cryptovest

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