world’s largest cryptocurrency stock market Binance’CEO of Changpeng Zhao (CZ) responded to allegations that the exchange has a know your weak customer (KYC) and anti-money laundering (AML) strategy.
Speaking at “Korea Blockchain Week” in Seoul, South Korea, CZ said that Binance is the most advanced in the crypto industry. KYC and AML He said he had the system.
As it will be remembered, in the past months, Reuters claimed that Binnace had a weak KYC and AML strategy and did not listen to CZ’s team.
Responding harshly to Reuters’ allegations, CZ said, BinanceHe stated that they are trying to perfect their KYC and AML systems to prevent criminals.
“We spend significant amounts of time and resources fighting hackers and criminals without using sanction lists.
Binance is the most licensed cryptocurrency exchange in the world. Licenses are for people to trust the stock market.”
Pointing to the use of Binance KYC technology in the digital identity studies of Palau country in his speech, CZ underlined that digital identity studies are supported by the BNB chain, which proves its maturity and determination.
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