More legal issues for Binance come to light.
of Know Your Customer/Anti-Money Laundering violations in a suit brought by the U.S. Commodity and Futures Trading Commission in March.The company did not reply immediately to an inquiry from Cointelegraph, but it told Bloomberg in a statement that it was compliant with U.S. and international sanctions, and its KYC protocols are in line with those of traditional banking. Every customer is subject to identity and residency checks, it said.
“Our policy imposes a zero-tolerance approach to double registrations, anonymous identities, and obscure sources of money.” In addition, according to Bloomberg, Binance “has been in discussions” with the DOJ about complaints that it had violated a previous version of sanctions against Iran.to the U.S. Treasury Department’s Office of Foreign Asset Control for violating sanctions against Crimea, Cuba, Iran, Sudan and Syria, according to a May 1 announcement.
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