.binance failed to deliver sufficient levels of money laundering prevention, according to a Reuters report. Reporting by oknightcrypto.
by Binance compliance officer Matthew Price, who said the report used skewed metrics to"get an agenda across."limit for accounts that had not passed know-your-customer protocols to 0.06 bitcoin from 2 BTC., recruiting Seth Levy, who spent 16 years at U.S. regulator Financial Industry Regulatory Authority FINRA, and Steven McWhirter from the U.K.'s Financial Conduct Authority in April.
In a statement to Reuters, a Binance spokesperson said that “we are both leading and investing in the future technologies and legislation that will set the crypto industry on the road to becoming a well-regulated, secure industry.”Binance continued to serve customers in Iran until September 2021. While the exchange announced a ban on Iranian citizens in November 2018 after the U.S.
The Binance spokesperson also told CoinDesk that the exchange's"industry-leading sanctions program is fully compliant with all international financial sanctions, including blocking platform access to users in Iran, North Korea, among many others."Adds Reuters story on Binance being accessed by users in Iran despite sanctions in last bullet point.
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