Binance Joins ACSS to Work With Global Regulators

Binance was one of the first crypto firms to join the Association of Certified Sanctions Professionals (ACSS). In a statement, Binance emphasizes that participation in this association will allow the company to better comply with the requirements of regulators around the world.. Especially in light of the unprecedented sanctions against Russia and increasing pressure on crypto companies. To this end, Binance Compliance Team members will undergo in-house training at ACSS. “The blockchain industry is still in its infancy and our goal remains to ensure the highest level of regulatory compliance, especially in a rapidly changing environment.. We want to set the industry standard for security and compliance together with other industry players,” said Binance Head of Sanctions Chagri Poyraz. ACSS specialists will train Binance employees according to the guidelines of the US Office of Foreign Assets Control (OFAC), as well as inform the exchange about possible sanctions violations. Earlier, Arcane Research noted that Binance now dominates the cryptocurrency market.. So, on December 28, Binance occupied 92% of the Bitcoin spot market and 61% of the derivatives market.