In the coming year, Binance will continue to work in close collaboration with law enforcement agencies and cyber investigative units from around the world, offering training programs and seminars to boost cybersecurity in the blockchain and digital assets industry. This reaffirms its commitment to tackle digital financial and cyber crimes. As has been reported widely, regulators are doing a sweeping review of the entire crypto industry against many of the same issues, a Binance. Here’s a quick summary of what happened today: The US Securities and Exchange Commissio n filed a lawsuit against Binance, the largest cryptocurrency exchange, the most serious action taken by US. In 2022, Binance formally announced its Global Law Enforcement Training Program and has conducted more than 70 law enforcement workshops. In fact, the Binance investigation itself predates the creation of the justice department’s crypto enforcement team, which was formed in 2021 and got a new director, Eun Young Choi, last February. As Binance continues efforts to remove bad actors from the digital ecosystem, we are heartened by the collaborations we’ve fostered along the way.” Collaborations with law enforcement agencies and officials is critical and we are glad to be working alongside the Hong Kong Police Force. Jarek Jakubcek, Head of Law Enforcement Training at Binance, said: “User security has always been Binance’s top priority, and we are fully committed to building a secure blockchain ecosystem by bolstering international cybersecurity. Various topics were covered including case studies on cryptocurrency related investigation techniques and examples of how Binance can facilitate criminal investigations with law enforcement agencies. It was joined by representatives from the HKPF, Independent Commission Against Corruption (ICAC) and the Customs and Excise Department (C&E), with a view to strengthen the knowledge and capability of officers in tackling and preventing cryptocurrency-related crime.Įxperts from Binance’s Law Enforcement Training and Investigations teams also contributed to the efforts by leading a training session focused on cryptocurrency investigation. By September 2021, that investigation had been expanded to include allegations of insider trading. markets in early 2021, according to a report from Bloomberg at the time. The CSTCB conducted a 5-day training program, which started on January 30, held in the Hong Kong Police Headquarters. By Stacy Elliott 4 min read Image: Shutterstock Binance’s proximity to its collapsed competitor FTX has given federal prosecutors reason to seek new information in their 4-year-old investigation into the world’s largest crypto exchange. The CFTC first began investigating Binance over allegedly unlawful trading practices in U.S. agency, filed a civil suit against Binance, alleging, among other details, that the exchange’s employees knew that the cryptocurrency trading platform had facilitated “potentially illegal activities.Binance, the world’s leading blockchain ecosystem and infrastructure provider, recently attended and supported a Virtual Asset Investigation Course (VAIC) conducted by the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force (HKPF) to reinforce law enforcement efforts against cybercrimes in the city. In late March, the Commodity Futures Trading Commission, a U.S. The Canadian authority’s investigation into Binance is not the only regulatory or legal action against the company to have publicly emerged in the past few months. “We will vigorously defend our business, the crypto community, and the industry against this action,” added the Binance spokesperson. It was unclear how much of the company’s announced departure was due to the securities regulator’s recent rule-making, and whether the OSC’s investigation into the exchange added further impetus for an exit. Binance’s decision to leave stood out, however, given the company’s size and because Zhao had grown up in Canada. Two months later, stablecoin-maker Paxos, decentralized exchange dYdX, and other crypto companies announced exits from the country. The US case against Binance calls out one of the worst-kept secrets in crypto Analysis by Allison Morrow, CNN Updated 10:41 PM EDT, Tue MaLink Copied Video Ad Feedback Binance.
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