Binance Bolsters Security Measures By Tightening KYC and Sanctions Screening
To ensure the sanction compliance and save the platform from the potential risk posed by illicit transacting of crypto, the well-established cryptocurrency exchange Binance has partnered with two firms, including analytical data firm Kharon and cloud-native screening provider Neterium. As per the announcement made on Wednesday, the partnership aims to bolster the exchange’s Know-your-customer (KYC) […]
Related News
Blockchain forensics company Chainalysis is launching two tools that will allow crypto companies to deny sanctioned persons and entities access to their platforms. The move comes amid concerns that Russia may use cryptocurrencies to evade sanctions imposed due to its invasion of Ukraine.
Chainalysis Offers Crypto Industry New Sanctions-Screening Tools
As the military conflict in Ukraine intensifies, western allies continue to expand sanctions on Russia, including by targeting opportunities to employ crypto assets to circumvent the restrictions. Blockchain analytics firm....
There is a challenge of not overdoing EU sanctions against Russia, according to Binance head of sanctions Chagri Poyraz. In the weeks following new sanctions from the European Union, Binance has kept its doors open for non-sanctioned Russian nationals, but that does not mean that the firm isn't complying with EU sanctions, according to Binance’s newly-appointed sanctions executive.Western sanctions against Russia have been a major challenge for Binance from day one, and the firm has been working hard to comply, Binance’s global head of sanctions Chagri Poyraz told Cointelegraph in an....
Blockchain-data analytics company Chainalysis has announced an accelerated launch of two sanctions screening tools, an on-chain oracle, and an API, to help provide greater regulatory oversight to exchanges and DeFi projects. Blockchain-data analysis firm Chainalysis has announced the fast-tracked launch of two primary ‘sanctions screening’ tools that it will provide free of charge to the cryptocurrency industry. According to the report provided by Chainalysis on March 10, the screening tools include two main components of new tracking software that will assist exchanges in screening....
An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex Ukrainian territories.
EU Council Adopts Full Ban on Crypto Wallet and Custody Services for Russian Persons
The Council of the European Union announced new sanctions against Russia on the backdrop of the deepening military conflict in Ukraine. The penalties, expected to hurt the Russian government and economy, come after....
Binance blocked the account of the Kremlin spokesman's daughter when she tried to use the exchange following the economic sanctions imposed upon Russia. Binance cryptocurrency exchange is adopting more measures to prevent the Russian government from mitigating the impact of sanctions through the use of crypto.Binance has shut down several accounts tied to relatives of senior Kremlin officials over the past two months since Russia began military action in Ukraine, Bloomberg reported on Thursday.According to the report, the affected persons included Elizaveta Peskova, the daughter of Russian....