Binance to Integrate Chinalysis’ АМL-Instruments
October 18, 2018
Popular digital trade platform Binance has declared it entered in partnership with Chinalysis, a service provider for distributed ledger analysis and legal compliance. The exchange is going to implement this software into its system.
Under this contract Chinalysis will provide a software for user identification which allows for online monitoring of asset transfers. The initiative is meant to help the company struggle more efficiently against illegal activities.
Wei Zhou, the company’s financial director, said that he expects all the rest crypto companies following the path taken by Binance as it is effective way to fight unlawful schemes including money laundering and terrorism financing.
In its turn Jonathan Levin, Chinalysis co-founder, agreed with Zhou and added that everyone involved in the crypto sector must stimulate confidence of both the community and authorities by increasing security level of their platforms. And the Chinalysis solution is just the thing to do so.