The large crypto exchange Binance has entered into a partnership with a supplier of solutions for analyzing Blockchains and ensuring legal compliance Chainalysis and integrates its software into Binance system.
Wei Zhou, CFO at Binance, said:
"By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve."
Chainalysis will provide Binance with access to its client identification software, allowing the exchange to track transactions in real time. This will help to identify illegal transactions.
Binance CFO Wei Zhou hopes that his company's strategy inspires other participants in the crypto industry to actively fight potential money laundering and terrorist financing.
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