​Binance Addresses Compliance Concerns, Claims Robust Measures | Altcoin Holder

​Binance Addresses Compliance Concerns, Claims Robust Measures in Place to Prevent Terrorism Financing

Leading cryptocurrency exchange Binance has responded to a Reuters report that raised questions about its compliance policies for preventing and tackling cryptocurrency-based financing of terrorism.

The exchange said it takes the issue very seriously and is not aware of any exchange, or other financial institution, that does more today to keep bad actors off their platform than Binance, the platform said in a Friday blog post.

Binance claimed that its policies and processes comply with AMLD5/6 anti-money laundering and counter-terrorism financing requirements and it has a robust compliance program that incorporates sophisticated anti-money laundering.

The exchange also said it has tools to detect and address suspicious activity and even has specialists on its team who have focused their entire careers on counter-terrorism.