CipherTrace adds support for BNB and Binance Chain increasing the Anti Money Laundering AML checks on Binance according to an official blog post published on November 5.
With this inventiveness customers of Cipher Trace will be able to trace Binanace chain and BNB transactions to identify any form of money laundering risk.
CipherTrace mentioned that it will also help strengthen Binance Chain’s anti-money laundering (AML) controls for attracting more developers to build compliant decentralized applications.
Chief compliance officer at Binance Samuel Lim said: “This is a major win for the community-driven Binance Chain; our users can soon expect more digital token/asset support across our fast-growing ecosystem and lines of businesses,”
Adding that “This partnership with CipherTrace would ultimately encourage greater community involvement, developer participation and public interest in Binance Chain and pave the way for larger mainstream adoption”.