Fortune | Binance failed to live up to its anti-money laundering obligations, report says
In the below article from Fortune, Friday, Chaopeng Zhao, founder and CEO of Binance—the world’s largest cryptocurrency exchange—tweeted: “Journalists [are] talking to people who were let go from Binance and partners that didn’t work out [who] are trying to smear us. We are focused on anti-money laundering, transparent and welcome regulation.”
Zhao, the Chinese-Canadian entrepreneur who is known ‘CZ’ in the crypto world, penned the tweet in response to a Reuters investigation into Binance published on the same day. In public, Binance lauded greater government oversight. But behind closed doors, the company operated its exchange with weak customer checks and anti-money laundering (AML) processes, and obscured information about its finances and business structure from regulators, the Reuters report said....
Binance failed to live up to its anti-money laundering obligations, report says | Fortune
