Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Exchanges
Re: Binance with new partner
by
squatter
on 06/10/2019, 19:21:41 UTC
Quote from: FreeEarnsActivist on October 04, 2019, 10:19:45 AM
Binance Partners with Coinfirm to Protect the Global Cryptocurrency Economy and Ensure Compliance with FATF AML Rules.

Binance will integrate Coinfirm’s blockchain-agnostic AML Platform to its cryptocurrency exchange servicing users in over 180 countries and regions for ensuring secure trading for its customers and compliance with the FATF’s guidelines to cryptocurrency exchanges around the world.

https://www.binance.com/en/blog/386484403820867584/Binance-Partners-with-Coinfirm-to-Protect-the-Global-Cryptocurrency-Economy-and-Ensure-Compliance-with-FATF-AML-Rules

At least CipherTrace lost their bid. That's the only good thing I can say about this.

My question is, when is Coinfirm's system being implemented? Hardly any country -- let alone Malta -- has begun complying with FATF travel rule. Is Binance planning to apply the rule before it even becomes the law of the land? That doesn't seem like something Binance would do.

The $1,000 threshold is pretty scary.