Binance chain and BNB would be traceable through CipherTrace
The Leading American security firm called CipherTrace is planning to submit Anti-Money laundering (AML) controls for popular crypto names such as Binance chain and its asset called Binance Coin (BNB). The public of major crypto currency Binance, Binance chain along with underlying for Binance DEX is looking forward to enhance its AML via Ciphertrace, this news came in public in the beginning of this month.
CipherTrace is planning to escalate AML checks on Binance Chain
To be precise, CipherTrace is going to serve Binance chain with institutional-grade AML controls that would help in increasing adoption of the Binance chain . With this new initiative, Ciphertrace is going to help global developers investors and regulators that would help in accessing the Binance chain for discovering data that includes high-risk addresses. In addition to that, this security firm is helping the entities to set and monitor various control to secure decentralized applications, exchanges or other crypto-based applications, this news was published in by Binance in its blog section. Call on Binance helpline number for support and assistance.
Customer data will not be shared with third parties, Binance COO says
As per the Binance COO, information will be not shared with third parties. The Chief Compliance Officer, Samuel Lim claimed that this initiative is not going to affect the security and data protection of Binance users as speaking to Cointelegraph, he assured that customer data will not be shared with their parties as an outcome of the latest AML practice adding that Users can be tenseion free as the exchange will maintain its high standards of user security and data protection. the COO officer denied to Cointelegraph about the result of this move affecting listing of privacy coins such as Monero (XMR) in the future, mentioning that the exchange doesn’t comment on tokens and maintains the integrity in its listing because of diligence process.
CipherTrace recently stretched out its platform to support 700 tokens
The support for BNB and Binance Coin by CipherTrace is followed by the recent expansion of its services to over 700 cryptocurrencies that include Ether (ETH), Tether (USDT), Bitcoin Cash (BCH) and Litecoin (LTC) previous month. It is also in news that the security firm has expanded to help 87% of the transactional volume of almost 200 cryptos, though the firm has not talked about anything and didn’t even mention what coins they are going to support on the platform at the time. If you want to know anything about the exchange and looking for guidance that would help in fixing the issues, you can directly call on Binance support number which is functional all the time for guidance.
The exchange was discovered in 2016 and was originally set up in China but later on, it shifted its headquarters to overseas because of the ban of crypto by Chinese government. There is news that China is now open to crypto world and Binance Support Number is planning to launch its office in Beijing soon. Well, nothing has been confirmed yet, therefore, at the time we can’t predict anything. You can talk to the team for latest news and updates about Binance and its assets.