Binance, the world’s largest cryptocurrency exchange, is dedicated to anti-money laundering and terrorism compliance. To this end, the exchange has more than 750 compliance support staff and has been able to freeze and seize over $1 billion in funds since the start of 2021. Many of the compliance team members have prior experience in law enforcement and regulatory services.

In addition, Binance recognizes suspicious deposits and takes appropriate action, as needed. Specifically, once a transaction is verified on the blockchain, it cannot be blocked or reversed. By cooperating with law enforcement, the exchange can identify individuals operating accounts that have any criminal or terrorist links.

Recently, documents have showed that Israel has seized around 190 Binance cryptocurrency exchange accounts since 2021, including those linked to the Islamic State (IS) and Hamas. These accounts were seized by the National Agency for Combating the Financing of Terrorism (NBCTF), and the resulting funds were intended to prevent any activities of the Islamic State and to limit their chance for success. The exact value of the seized cryptocurrencies and how the accounts are related to the Islamic State have not yet been revealed.

Overall, Binance is doing its utmost to remain compliant to anti-money laundering and terrorism laws and regulations by cooperating with law enforcement and dedicating resources to ensure any illegal use of the exchange’s services is identified and stopped. The platform refuses to reverse transactions once they are verified on the blockchain but opts instead to intervene, freeze funds, and assist with investigations where necessary.



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