Binance partners with blockchain forensics firm CipherTrace

[ccryptopark]

https://www.newsbtc.com/2019/04/11/crypto-binance-compliance/

Crypto exchange Binance announced today that they have partnered with CipherTrace to remain compliant with regulations. The goal is to build greater trust and transparency in the overall market. Seeing that Binance has already proven itself as one of the most reliable crypto exchanges this partnership only improves their high standards imo

[Slow death]

I went searching on google about CipherTrace and found this: https://ciphertrace.com/leadership  is a very good company, I hope that with partners binance will continue to be the best exchange and all exchanges will follow suit and improve their services. exchanges like yobit that are a shame for the crypto world should not exist

[milewilda]

I went searching on google about CipherTrace and found this: https://ciphertrace.com/leadership  is a very good company, I hope that with partners binance will continue to be the best exchange and all exchanges will follow suit and improve their services. exchanges like yobit that are a shame for the crypto world should not exist

Binance would really always target out thing that would really add up into their reputation thats why we cant really doubt regarding on their current standing on the market.
First time to see up with these blockchain forensics firm. I dont know if its really need for Yobit to be compared with Binance (that shitty exchange) even upto now its still operational.

[joniboini]

Hmm, so if they aim to remain compliance with regulation, is it possible they'll require KYC from the beginning? Seeing how exchanges are starting to make sure that they can continue its operation by agreeing to be more "transparent" to the government.

If that happens, then DEX might be the only option for those who want to keep their privacy. Hopefully, DEX can improve greatly before that ever happens.

[ccryptopark]

I went searching on google about CipherTrace and found this: https://ciphertrace.com/leadership  is a very good company, I hope that with partners binance will continue to be the best exchange and all exchanges will follow suit and improve their services. exchanges like yobit that are a shame for the crypto world should not exist

that's pretty cool to read about their leadership team. I would agree they have a team that are pretty solid and know what they're doing. I think it was a wise partnership imo

[shield132]

I went searching on google about CipherTrace and found this: https://ciphertrace.com/leadership  is a very good company, I hope that with partners binance will continue to be the best exchange and all exchanges will follow suit and improve their services. exchanges like yobit that are a shame for the crypto world should not exist

Is yobit even a exchange? Well, maybe yes but for dead coins, they are still traded here, overally this company is shame.
Seems Binance's aim with this partnership is to lessen money laundering. To be fair haven't heard about CipherTrace, guys are they good? (If you know). Btw I am astonished they didn't make contract with Bitfury because this company has huge experience in blockchain technologies and has contract with governments, this is serious staff.

[BitHodler]

Is yobit even a exchange? Well, maybe yes but for dead coins, they are still traded here, overally this company is shame.

Of course it is. Yobit currently generates like $25 million in daily volume, which isn't all that bad considering how much of a shit exchange it is. But hey, newbies love to invest in trash coins, so there you have the demand.

I even think that Yobit will continue to grow with how the more reputable exchanges either comply with regulations, or become more picky about what coins they list in general.

As for the CipherTracr part, it doesn't surprise me at all that we have seen more exchanges and services partner up with similar firms, which is mainly done to please governments. It's the only way to not work against governments.

Binance has grown so large, that they have a lot to lose now, because the larger you grow, the more of a target you become for governments. This is also why exchanges as Yobit manage to survive this long.

Yobit is too insignificant to allocate resources to for governments.