Binance Teams Up Using Elliptic to Bolster AML Compliance

The exchange has also partnered to the end with hazard management firm IdentityMind.

As part of its attempts to be regulatory compliant, Malta-based crypto trade Binance has partnered with Blockchain startup Elliptic. As demonstrated by a Coindesk report, the venture will assist Binance mitigate anti-money laundering (AML) worries because it expands into new regions.

In the company’s announcement, its Chief Compliance Officer Samuel Lim stated,”The variety of CipherTrace as our on-chain safety solution will fortify our growth push and build greater trust among our customers, regulators and financial institutions.”

Published at Thu, 02 May 2019 16:27:12 +0000

Binance announced a similar venture on April 11, describing it as a step towards attaining AML compliance that was proper.