Cryptocurrency exchange Binance is partnering with Chainalysis to release a system detecting suspicious trade activity, according to a press release earlier this week.
The Chainalysis Know Your Transaction (KYT) software uses pattern recognition, algorithms and sampling to raise live alerts on dubious trades and transfers.
The move is an attempt to appease financial regulators outside the crypto ecosystem. But as the world’s most popular exchange eyes foreign expansion, its security standards must comply with high international expectations.
The software upgrade targets money laundering and other fraudulent activity — issues that have plagued cryptocurrency exchanges in the past.
“By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth,” Binance CFO Wei Zhou said in the October 17th press release.
“Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.”
Binance is a community giant, and offers wallet, educational and research services alongside its own Binance Coin (BNB). The platform is able to process 1.4 million orders a second, making it Chainalysis’ biggest client yet.
Good Cop, Bad Cop
Chainalysis is the world leader in cryptocurrency compliance services and security solutions. Its mission is “to build trust in blockchains between people, businesses and governments” according to the company’s website.
In a company profile by ComputerWeekly.com, reporter Warwick Ashford compared Chainalysis to an industry-wide police force.
“As Chainalysis software becomes more widely deployed, the number of jurisdictions in which cyber criminals can use bitcoins with impunity will be very limited.”
But to many in the crypto community, Chainalysis is an unwelcome incursion on privacy.
In a recent article BitNewsBot.com reported that Binance had “caught the regulatory jitters,” adding that “it seems like the compliance bug has finally bitten Binance.”
TheNextWeb writer David Canellis didn’t pull any punches either. He wrote that “[Binance] is looking to appease government regulators worldwide with some fancy new tech.”
Fancy tech aside, the partnership with Chainlalyst shows Binance is committed to customer protection. But will that cost customers their privacy?
Binance On Fire and Under Fire
The Chainalysis press release comes a day after Binance’s fifth token burn in which roughly $17 million worth of BNB were destroyed. In response, BNB price dropped more than 2%.
This caught the attention of Twitter user BambouClub, who also said Binance trading fees have almost doubled since July.
https://twitter.com/BambouClub/status/1052173725410430976
While token burning should increase the long-term value of remaining BNB, prices are continuing a three-month long descent. According to Bitcoinist.com, Binance has reported a decline exceeding 20%.
Even as profits fall, Binance continues to search for opportunities overseas. The exchange launched a fiat to cryptocurrency service in Uganda recently and has hinted at plans for a decentralised exchange.
Binance is gaining mainstream regulatory acceptance with the KYT detection software. While while growth is slowing, the exchange giant shows no sign of stopping.
As Q3 earning report analysis starts coming in, check back with Bitcoin Australia to read our thoughts on Binance.
Comments(97)
comment Lilly Vincent says
January 20, 2024 at 12:13 pmThere is definately a lot to find out about this subject. I like all the points you made
comment goltogel says
January 20, 2024 at 4:26 pmEssential wisdom, much appreciated.
comment yasam ayavefe says
January 24, 2024 at 2:32 amyasam ayavefe good web site click and go web site yasam ayavefe
comment Lilly Watts says
January 29, 2024 at 11:08 amGreat information shared.. really enjoyed reading this post thank you author for sharing this post .. appreciated
comment Rastrear Teléfono Celular says
January 30, 2024 at 10:58 amEl correo electrónico no es seguro y puede haber vínculos débiles en el proceso de envío, transmisión y recepción de correos electrónicos. Si se aprovechan las lagunas, la cuenta se puede descifrar fácilmente.
comment PENTA says
February 6, 2024 at 9:31 amPENTA Yıkama, aracımın temizliği konusunda ne kadar profesyonel olduklarını her seferinde kanıtlıyor. Çok memnunum! – https://www.pentayikama.com/
comment Pinned says
February 8, 2024 at 5:28 pmThe advice on leveraging social media for professional growth was eye-opening. I hadn’t considered the potential of platforms like LinkedIn beyond mere networking, but this article has expanded my horizons. | https://www.pinnedin.com/
comment PinnedIn says
February 8, 2024 at 7:20 pmThe step-by-step guide to mastering interview skills is incredibly helpful. It breaks down the process into manageable chunks, making it less daunting for job seekers like myself. | https://www.pinnedin.com/
comment Pin ned says
February 8, 2024 at 10:54 pmGreat insights shared in this blog post! I particularly liked how it delves into the intricacies of networking in professional settings. Looking forward to implementing some of these strategies in my own career journey. | https://www.pinnedin.com/
comment Diet says
February 9, 2024 at 8:59 amI appreciate the actionable takeaways provided at the end of each section. They serve as handy reminders of the key points discussed and make it easier to implement the insights shared in the blog post. | https://www.pinnedin.com/
comment News says
February 9, 2024 at 11:29 pmThe step-by-step guide to mastering interview skills is incredibly helpful. It breaks down the process into manageable chunks, making it less daunting for job seekers like myself. | https://www.pinnedin.com/
comment Hairstyles says
February 10, 2024 at 3:09 amThis blog post serves as a timely reminder to cultivate a growth mindset. Embracing challenges as opportunities for learning and development is key to unlocking our full potential. | https://www.pinnedin.com/
comment Hazır Web Sitesi says
February 10, 2024 at 11:43 amMAFA consistently delivers top-notch content on web design and software trends. Your expertise shines through in every article, making it a go-to resource for professionals like myself. | https://www.mafaweb.com.tr/
comment Dijital Pazarlama says
February 10, 2024 at 8:07 pmMAFA’nın web tasarım ve yazılım hakkındaki içerikleri, sektördeki en güvenilir kaynaklardan biri haline geldi. Sizden öğrendiğim bilgilerle kendi projelerimi daha verimli bir şekilde yönetebiliyorum. | https://www.mafaweb.com.tr/
comment Mira Banks says
February 10, 2024 at 8:09 pmPretty! This has been a really wonderful post. Many thanks for providing these details.
comment Web Tasarım Fiyatları says
February 10, 2024 at 10:40 pmMAFA’s blog serves as a beacon of knowledge in the vast sea of web design and software development. Your articles are both enlightening and inspiring, fueling my passion for this field. | https://www.mafaweb.com.tr/
comment E-Ticaret says
February 11, 2024 at 9:06 amMAFA’nın web tasarım ve yazılım hakkındaki içerikleri, sektördeki en kapsamlı ve anlaşılır kaynaklardan biri. Özellikle uzmanlık alanınızla ilgili detaylı açıklamalarınızı çok değerli buluyorum. Devamını bekliyorum. | https://www.mafaweb.com.tr/
comment Hazır Web Sitesi says
February 11, 2024 at 11:58 amMAFA’s blog has become my go-to resource for learning about web design and software development. Your clear explanations and real-world examples make complex topics accessible to learners at all levels. | https://www.mafaweb.com.tr/
comment Erica Perkins says
February 11, 2024 at 2:33 pmAwesome! Its genuinely remarkable post, I have got much clear idea regarding from this post
https://www.sarkariresultsnaukri.com/latest-govt-jobs/
comment MAFA \ Web says
February 12, 2024 at 11:12 amJullie schrijfstijl is zo helder en boeiend! Het maakt de complexe wereld van webdesign en ontwikkeling toegankelijk voor iedereen. Bedankt voor het delen van jullie kennis op zo’n begrijpelijke manier. | https://www.mafaweb.nl/
comment insta takipçi says
February 12, 2024 at 8:33 pmIt was a perfect sharing bro. very useful tahnxss
comment Webdesign Retersbeek says
February 12, 2024 at 9:09 pmBedankt voor het delen van jullie expertise op het gebied van webdesign en ontwikkeling. Jullie blog is mijn go-to bron geworden voor het blijven leren en groeien in dit vakgebied. | https://www.mafaweb.nl/
comment webdesign bureau Elburg says
February 13, 2024 at 12:19 amJullie blogposts zijn altijd zo goed geschreven en informatief. Ik leer altijd iets nieuws elke keer dat ik jullie site bezoek. Bedankt voor het delen van jullie kennis met de wereld! | https://www.mafaweb.nl/
comment Paal webdesign diensten says
February 13, 2024 at 1:52 amGeweldige inhoud! Ik ben vooral geïnteresseerd in jullie tips en trucs voor het optimaliseren van websites. Jullie hebben me echt geholpen mijn vaardigheden op dit gebied te verbeteren. Dank je wel! | https://www.mafaweb.nl/
comment Roderesch webdevelopment bureau says
February 13, 2024 at 5:21 amWat een inspirerende blog! Ik ben altijd op zoek naar nieuwe ideeën en inzichten op het gebied van webdesign, en jullie leveren keer op keer interessante inhoud. Bedankt voor het delen! | https://www.mafaweb.nl/
comment Ridderbuurt social media marketing bureau says
February 13, 2024 at 7:13 amJullie hebben echt een talent voor het combineren van esthetiek en functionaliteit in jullie ontwerpen. Het is inspirerend om te zien hoe jullie unieke oplossingen bedenken voor complexe uitdagingen. | https://www.mafaweb.nl/
comment webdesign prijzen Ravenswâld says
February 13, 2024 at 9:12 amWat een verfrissende kijk op webdesign! Jullie benadering van creativiteit en functionaliteit is echt inspirerend. Ik kan niet wachten om meer te lezen van wat jullie te bieden hebben. | https://www.mafaweb.nl/
comment Prinsenkamp zakelijk website laten maken says
February 13, 2024 at 11:58 amJullie blogposts zijn echt informatief en nuttig. Het is duidelijk dat jullie diepgaande kennis hebben van webdesign en ontwikkeling. Ik kijk ernaar uit om meer van jullie te leren. | https://www.mafaweb.nl/
comment Bodegraven-Reeuwijk server says
February 13, 2024 at 3:25 pmIk ben echt onder de indruk van de projecten die jullie hebben afgerond. Jullie vermogen om de visie van jullie klanten tot leven te brengen is bewonderenswaardig. Keep up the good work! | https://www.mafaweb.nl/
comment Roodkerk email says
February 13, 2024 at 7:03 pmJullie blog is een schat aan waardevolle informatie voor zowel beginners als ervaren professionals op het gebied van webdesign. Ik waardeer de diversiteit aan onderwerpen die jullie behandelen. Keep up the good work! | https://www.mafaweb.nl/
comment zakelijk website laten maken Terborg says
February 13, 2024 at 11:02 pmHallo! Ik ben onder de indruk van de creativiteit en het vakmanschap dat jullie tonen in jullie blogberichten. Het is duidelijk dat jullie een passie hebben voor webdesign en ontwikkeling. Ga zo door! | https://www.mafaweb.nl/
comment seo Delden says
February 14, 2024 at 3:16 amJullie hebben echt een talent voor het combineren van esthetiek en functionaliteit in jullie ontwerpen. Het is inspirerend om te zien hoe jullie unieke oplossingen bedenken voor complexe uitdagingen. | https://www.mafaweb.nl/
comment goltogel says
February 14, 2024 at 4:47 amI’m interested in joining as a writer. What’s the application process?
comment goltogel says
February 14, 2024 at 4:53 amYour post brought tears to my eyes, but in the best way possible. Thank you for sharing your heart.
comment De Rips zakelijk website laten maken says
February 14, 2024 at 8:01 amJullie blog is een onschatbare bron van inspiratie en kennis voor iedereen die geïnteresseerd is in webdesign en ontwikkeling. Ik waardeer de tijd en moeite die jullie steken in het produceren van zulke waardevolle inhoud. Ga zo door! | https://www.mafaweb.nl/
comment zakelijk website laten maken Dokkum says
February 14, 2024 at 9:20 amIk ben echt onder de indruk van de projecten die jullie hebben afgerond. Jullie vermogen om de visie van jullie klanten tot leven te brengen is bewonderenswaardig. Keep up the good work! | https://www.mafaweb.nl/
comment webdevelopment bureau Sint-Maartensdijk says
February 14, 2024 at 10:51 amIk ben echt onder de indruk van jullie portfolio en de projecten die jullie hebben afgerond. Jullie creativiteit en vakmanschap schijnen echt door in alles wat jullie doen. Ga zo door! | https://www.mafaweb.nl/
comment Aldemardum social media marketing says
February 14, 2024 at 12:30 pmBedankt voor het delen van jullie expertise op het gebied van webdesign en ontwikkeling. Jullie blog is mijn go-to bron geworden voor het blijven leren en groeien in dit vakgebied. | https://www.mafaweb.nl/
comment Rhee social media marketing says
February 14, 2024 at 2:16 pmIk ben echt onder de indruk van de projecten die jullie hebben afgerond. Jullie vermogen om de visie van jullie klanten tot leven te brengen is bewonderenswaardig. Keep up the good work! | https://www.mafaweb.nl/
comment webdesign Raard says
February 14, 2024 at 4:12 pmJullie zijn echt meesters in jullie vakgebied! Ik ben altijd onder de indruk van de innovatieve oplossingen die jullie bedenken voor complexe problemen. Bedankt voor het delen van jullie wijsheid met ons. | https://www.mafaweb.nl/
comment Pijnacker-Nootdorp zakelijk website laten maken says
February 14, 2024 at 6:13 pmIk ben dol op jullie benadering van webdesign – zowel esthetisch als functioneel. Het is duidelijk dat jullie veel aandacht besteden aan elk aspect van jullie werk. Geweldig werk! | https://www.mafaweb.nl/
comment Panningen email says
February 14, 2024 at 8:35 pmIk ben echt onder de indruk van jullie portfolio en de projecten die jullie hebben afgerond. Jullie creativiteit en vakmanschap schijnen echt door in alles wat jullie doen. Ga zo door! | https://www.mafaweb.nl/
comment Simpelveld zakelijk emailadres says
February 14, 2024 at 10:59 pmBedankt voor het delen van jullie expertise op het gebied van webdesign en ontwikkeling. Jullie blog is mijn go-to bron geworden voor het blijven leren en groeien in dit vakgebied. | https://www.mafaweb.nl/
comment Hilversum social media marketing says
February 15, 2024 at 1:24 amJullie hebben echt een talent voor het combineren van esthetiek en functionaliteit in jullie ontwerpen. Het is inspirerend om te zien hoe jullie unieke oplossingen bedenken voor complexe uitdagingen. | https://www.mafaweb.nl/
comment Bolsward webdevelopment says
February 15, 2024 at 7:29 amIk ben echt onder de indruk van de projecten die jullie hebben afgerond. Jullie vermogen om de visie van jullie klanten tot leven te brengen is bewonderenswaardig. Keep up the good work! | https://www.mafaweb.nl/
comment server Rouveen says
February 15, 2024 at 11:26 amJullie schrijfstijl is zo helder en boeiend! Het maakt de complexe wereld van webdesign en ontwikkeling toegankelijk voor iedereen. Bedankt voor het delen van jullie kennis op zo’n begrijpelijke manier. | https://www.mafaweb.nl/
comment webdesign prijzen Rechteren says
February 15, 2024 at 4:06 pmJullie blog is een onschatbare bron van inspiratie en kennis voor iedereen die geïnteresseerd is in webdesign en ontwikkeling. Ik waardeer de tijd en moeite die jullie steken in het produceren van zulke waardevolle inhoud. Ga zo door! | https://www.mafaweb.nl/
comment Poppenhuzen webdesign diensten says
February 15, 2024 at 10:08 pmIk ben echt onder de indruk van jullie portfolio en de projecten die jullie hebben afgerond. Jullie creativiteit en vakmanschap schijnen echt door in alles wat jullie doen. Ga zo door! | https://www.mafaweb.nl/
comment webdesign Oostburg says
February 16, 2024 at 4:07 amJullie blogposts zijn altijd zo goed geschreven en informatief. Ik leer altijd iets nieuws elke keer dat ik jullie site bezoek. Bedankt voor het delen van jullie kennis met de wereld! | https://www.mafaweb.nl/
comment Pannenschop online marketing says
February 16, 2024 at 5:43 amGeweldige inhoud! Ik ben vooral geïnteresseerd in jullie tips en trucs voor het optimaliseren van websites. Jullie hebben me echt geholpen mijn vaardigheden op dit gebied te verbeteren. Dank je wel! | https://www.mafaweb.nl/
comment Oudewater webdesign bureau says
February 16, 2024 at 8:13 amWat een inspirerende blog! Ik ben altijd op zoek naar nieuwe ideeën en inzichten op het gebied van webdesign, en jullie leveren keer op keer interessante inhoud. Bedankt voor het delen! | https://www.mafaweb.nl/
comment server Zeist says
February 16, 2024 at 11:46 amWat een verfrissende kijk op webdesign! Jullie benadering van creativiteit en functionaliteit is echt inspirerend. Ik kan niet wachten om meer te lezen van wat jullie te bieden hebben. | https://www.mafaweb.nl/
comment recipes says
February 17, 2024 at 2:41 pmThe blog post on building meaningful connections in a digital world was a breath of fresh air. In an age dominated by social media, it’s essential to nurture authentic relationships both online and offline.
comment asdsadas says
February 17, 2024 at 3:36 pmadasdas
comment Pinnedin says
February 17, 2024 at 6:09 pmThe step-by-step guide to mastering interview skills is incredibly helpful. It breaks down the process into manageable chunks, making it less daunting for job seekers like myself.
comment Website laten maken says
February 17, 2024 at 8:15 pmThis article offers a refreshing perspective on work-life balance, especially in the context of remote work. The tips provided are practical and seem feasible to incorporate into my daily routine.
comment Pinnedin says
February 17, 2024 at 9:59 pmThe tips for navigating difficult conversations at work are practical and well-articulated. Conflict resolution is a skill that everyone can benefit from honing, and this article offers valuable guidance in that regard.
comment konteyner ev says
February 17, 2024 at 11:47 pmThe tips for navigating difficult conversations at work are practical and well-articulated. Conflict resolution is a skill that everyone can benefit from honing, and this article offers valuable guidance in that regard.
comment Webdesign says
February 18, 2024 at 1:37 amKudos to the author for shedding light on the challenges faced by women in male-dominated industries. It’s essential to address these disparities and work towards creating more inclusive environments.
comment Prefabrik says
February 18, 2024 at 3:31 amThe step-by-step guide to mastering interview skills is incredibly helpful. It breaks down the process into manageable chunks, making it less daunting for job seekers like myself.
comment recipes says
February 18, 2024 at 5:51 amGreat insights shared in this blog post! I particularly liked how it delves into the intricacies of networking in professional settings. Looking forward to implementing some of these strategies in my own career journey.
comment Prefabrik says
February 18, 2024 at 8:42 amThe discussion on the importance of continuous learning resonated with me deeply. Lifelong learning is indeed the key to staying relevant and adaptable in today’s fast-paced world.
comment konteyner ev says
February 18, 2024 at 12:13 pmI appreciate the emphasis on diversity and inclusion initiatives in the workplace. It’s heartening to see organizations taking proactive steps towards creating equitable environments for all employees.
comment recipes says
February 18, 2024 at 4:25 pmGreat insights shared in this blog post! I particularly liked how it delves into the intricacies of networking in professional settings. Looking forward to implementing some of these strategies in my own career journey.
comment Webdesign says
February 18, 2024 at 9:18 pmThe advice on leveraging social media for professional growth was eye-opening. I hadn’t considered the potential of platforms like LinkedIn beyond mere networking, but this article has expanded my horizons.
comment Konteyner says
February 19, 2024 at 12:20 amI appreciate the actionable takeaways provided at the end of each section. They serve as handy reminders of the key points discussed and make it easier to implement the insights shared in the blog post.
comment Website laten maken says
February 19, 2024 at 1:47 amKudos to the author for shedding light on the challenges faced by women in male-dominated industries. It’s essential to address these disparities and work towards creating more inclusive environments.
comment Pinnedin says
February 19, 2024 at 3:15 amThe discussion on the importance of continuous learning resonated with me deeply. Lifelong learning is indeed the key to staying relevant and adaptable in today’s fast-paced world.
comment Pinnedin says
February 19, 2024 at 4:46 amOverall, this blog post was a valuable read packed with practical tips and thought-provoking insights. I’ll definitely be revisiting it as I continue to navigate my professional journey.
comment recipes says
February 19, 2024 at 8:04 amThe tips for navigating difficult conversations at work are practical and well-articulated. Conflict resolution is a skill that everyone can benefit from honing, and this article offers valuable guidance in that regard.
comment penta yıkama says
February 19, 2024 at 9:47 amOverall, this blog post was a valuable read packed with practical tips and thought-provoking insights. I’ll definitely be revisiting it as I continue to navigate my professional journey.
comment Prefabrik says
February 19, 2024 at 11:35 amThe section on goal setting and time management was a wake-up call for me. It’s easy to get caught up in day-to-day tasks without a clear direction, but this piece reminded me of the importance of setting intentions and prioritizing my time accordingly.
comment Webdesign says
February 19, 2024 at 1:26 pmThe tips for combating imposter syndrome struck a chord with me. It’s reassuring to know that I’m not alone in experiencing these feelings of self-doubt and that there are concrete strategies for overcoming them.
comment Konteyner says
February 19, 2024 at 4:21 pmThis article offers a refreshing perspective on work-life balance, especially in the context of remote work. The tips provided are practical and seem feasible to incorporate into my daily routine.
comment dramago.live says
February 27, 2024 at 6:01 amThis quote is my daily mantra now! Your words have a powerful impact. Thanks for the inspiration to start each day on a positive note.
comment dramago.live says
February 27, 2024 at 10:35 amYour fitness journey is incredibly motivating! The progress you’ve made is inspiring, and your dedication to a healthier lifestyle is commendable. Keep up the fantastic work!
comment Yaşam Ayavefe says
March 3, 2024 at 11:19 amHey there! This is my 1st comment here so I just wanted to give a quick shout out and say I really enjoy reading
through your blog posts. Can you suggest any other blogs/websites/forums that deal with the same topics?
Thanks a lot!
comment danatoto terpercaya says
March 11, 2024 at 3:37 pmYour post was like a ray of sunshine breaking through the clouds on this gloomy day.
comment danatodo alternatif says
March 11, 2024 at 9:21 pmYour strength in the face of adversity is truly inspiring. Thank you for sharing your story.
comment danatodo alternatif says
March 12, 2024 at 2:38 amYour kindness shines through your words. Thank you for being a beacon of light.
comment dramago.live says
March 13, 2024 at 6:44 amYour book recommendation was a page-turner! I couldn’t put it down. Your literary taste is impeccable. Can’t wait to explore more titles you suggest.
comment 토토사이트추천 says
March 15, 2024 at 12:31 pmI still have a lot to learn about binance. and it’s good that many people are eager to write about it
comment dingdongtogel says
March 15, 2024 at 8:15 pmFully resonate with the sentiments expressed above – this post is fantastic!
comment haziran org says
March 17, 2024 at 12:28 amhaziran.org
comment demet evgar yaşı boyu, kilosu says
March 17, 2024 at 10:11 amhaziran.org
comment Kingsley says
March 19, 2024 at 2:39 pmSeems like you’ve covered it thoroughly here. btw, before it gets snapped up, the domain name Carparts-auto. com is for sale, find it here > https://tinyurl.com/carprts
comment rraenee kaç yaşında says
March 20, 2024 at 8:12 pmrraenee kaç yaşında
comment 国产线播放免费人成视频播放 says
March 22, 2024 at 3:58 pmThank you great post. Hello Administ .国产线播放免费人成视频播放
comment Casibom says
March 22, 2024 at 7:12 pmThank you for great content. Hello Administ.
comment binance推薦 says
March 22, 2024 at 11:41 pmYour point of view caught my eye and was very interesting. Thanks. I have a question for you.
comment daftar masuk says
March 24, 2024 at 3:34 pmamazing morning initiating with a fantastic literature 📖🌞
comment alternatif link says
March 24, 2024 at 7:43 pmphenomenal sunrise starting with a superb read 📚🌞
comment makale yazarak para kazanmak says
March 25, 2024 at 6:23 ammakale yazarak para kazanmak
comment 国产线播放免费人成视频播放 says
March 25, 2024 at 3:27 pmEverything is very open and very clear explanation of issues. was truly information.活婴儿色情片
comment Rogelio Jaskolski says
March 26, 2024 at 5:59 pmVajinal Kaşıntıya Doğal Çözüm Yöntemleri
comment 国产线播放免费人成视频播放 says
March 26, 2024 at 6:32 pmGood info. Lucky me I reach on your website by accident, I bookmarked it. 国产线播放免费人成视频播放
comment betvino says
March 27, 2024 at 7:26 pmbetvino giriş adresi güncel paylaşımlar