Cryptocurrency exchange Binance has signed a partnership with international regulation technology company Coinfirm “to protect the global currency economy and ensure compliance with FATF AML Rules.”
Recently the Financial Action Task Force (FATF) issued new guidelines on anti-money laundering (AML) rules. To ensure compliance, Binance plans to leverage Coinfirm’s competence and AML Platform, shared Chief Compliance Officer of Binance Samuel Lim:
“With new and more expansive AML and regulatory standards being put in place across the globe and governmental bodies such as the FATF placing new rules on the market in order to ensure sustainable growth of the market, we are looking forward to our collaboration with Coinfirm.”
Co-Founder and CEO of Coinfirm, Pawel Kuskowski, added that due to “mutual values in ensuring trust and security for cryptocurrencies” and high standards, the partnership “marks another step forward in their leadership in the market,'' adding that high level of compliance will lead to wider blockchain adoption.
As COIN360 reported earlier, last week Binance also delisted 30 trading pairs in order to improve liquidity and “user trading experience among our wide range of available assets”. Earlier, the cryptocurrency exchange launched its Staking Platform.