Binance CEO "Top exchanges' illegal trading involvement share 0.001%... Binance is lower"
Summary
- Richard Teng, Binance CEO, said the share of illegal trading involvement of major virtual asset exchanges is only 0.001%.
- He said Binance's corresponding share is lower than this and that its anti-money laundering (AML) systems are being continuously strengthened.
- The remarks are interpreted as intended to respond to U.S. regulators and media pointing out potential illicit funds involvement.
Richard Teng (Richard Teng), Binance CEO, on the 17th (local time) on his X (formerly Twitter) rebutted a Forbes report that major virtual asset (cryptocurrency) exchanges collected millions of dollars in fees through crime-linked transactions.
He said, "Some mainstream media are selectively citing specific data to make the virtual asset industry and Binance look negative." Teng CEO cited actual statistics from Chainalysis and TRM Labs and emphasized, "The proportion of illegal trading involvement among top centralized exchanges (CEX) is only 0.001%."
He also said, "Binance's proportion is much lower than this figure," and explained that the exchange's anti-money laundering (AML) systems and monitoring framework are being continuously strengthened.
Amid recent U.S. regulators and the media pointing out the possibility of major exchanges' involvement with illicit funds, Teng CEO's remarks are interpreted as an attempt to ease market concerns.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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