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Binance Chief Strategy Officer confirms to Wall St. Journal that Binance is facing penalties for enabling money laundering, bribery, corruption, and/or international sanctions.


Cryptocoins Exchanges / Binance 61 Views

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Binance, the world’s largest cryptocurrency change, expects to pay financial penalties to settle present U.S. regulatory and law-enforcement investigations of its business, the firm’s chief technique officer stated in an interview.

Binance grew shortly and commenced as a enterprise powered by software program engineers unfamiliar with laws and rules written to deal with the danger of bribery and corruption, money laundering, and financial sanctions, Patrick Hillmann stated. The corporate has been working to fill gaps in its early compliance efforts, he stated, however nonetheless expects regulators will impose fines for past conduct.

The result shall be “probably a effective, might be extra.…We simply don’t know. That is for regulators to determine.”

Chief Technique Officer is making an attempt to put on a brave face... but one ought to contemplate what, exactly, is "worse" than a effective...

submitted by /u/michel_cryptadamus
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