Binanca strengthens compliance, recovering $ 30 million

On Yi, the co-founder of Binance, in a recent podcast, has discovered that the cryptourcial exchange with their internal audit team spent more than 120 investigations in the last two years, resulting in over 60 employees for non-compliance and recovered $ 30 million in illegal gains.

Wu BlockChain reports Binanci by conducting internal audits

Strengthening internal controls

The exchange also hired two US Coordinators to enforce the laws that ensure that it is in accordance with the law and regulations, such as the Bank (BSA) Bank Law (AML). After $ 30 million, he was extracted, the company leads legal actions in two cases for refund for further funds. The main objective of exchange is to ensure that the team creates a safe, secure and harmonized environment for the protection for the protection of its users.

Why me?

Out of 100% of Kriptoturcrency users, 28% of the user of the cryptonian Americans cannot afford to indulge in such a huge market, and due to regulatory negligence and we are known for its strict financial regulations, sexual levels on the state level. The company was investigated by the DIC, warned from NYDF and faced the allegations of the permission of the cases of money laundering and terrorist financing. For addressing these challenges, Binanca had to take steps to simplify compliance measures and is currently working closely with US regulators to ensure compliance with regulatory requirements.

These efforts indicate that the exchange is investing efforts to remain transparent as possible and keep the default regulations with ever changing the cryptous landscape.

Bintance and other regulatory challenges

Binanca goes strong regulations for increasing the regulatory landscape in the cryptic space. The company faced significant backs from the regulator in the world, and the platform reviews various government agencies around the world.

In India, for example, Binanca had to pay Hefty a fine of $ 2.25 million in June 2024. years after registration with the Units of Financial Intelligence (FIU). The company was also inspected due to unpaid taxes, and the Indian government learned $ 97 million of unpaid goods and taxes (GST) from various crypton exchange, whichever includes binance.

With internal audits and the upcoming legal actions to be taken, he tries to maintain his position as a leader in the cryptoturchinka industry and ensures that it remains transparent and adheres to regulations.

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