According to Changpeng Zhao’s tweet, Binance reveals the shocking truth behind crypto and money laundering. You have two reasons if you’re anti-crypto. For one thing, crypto is useless, and for another, it’s a way for individuals to launder money. Crypto isn’t worthless, but is it a sanctuary for money laundering, as some claim? No. There’s an inconvenient truth for those who want to depict crypto as a money-laundering haven. There were only 0.15% of all cryptocurrency transactions completed last year. They had relations to illegal behavior, according to the analysis company Chainalysis. An Uncomfortable Reality of Money Laundering So, where do they go from here? “Inconvenient truth” is that most money laundering occurs via regular banking, not crypto. Some people don’t like that Binance is a major leader. One that is helping law enforcement fight cyber and financial crime. They helped the DEA locate and seize 100 accounts tied to Mexican money laundering. It is all part of our everyday work and a vital component of good law enforcement coordination. The detectives at Binance created a blueprint for using Blockchain Tracing. to track the crypto industry’s most heinous bad actors, like Hydra Market. Using talents helps enforcement agencies track people who use the blockchain for illegal things. Combating State-Sponsored and Organized Crime Binance’s anti-money laundering technologies are some of the most advanced globally. They...
