Popular crypto exchange Binance, which is reportedly leading in daily cryptocurrency trading volume, is now a member of ACSS, or the Association of Certified Sanctions Specialists.
The Association works to enhance the qualification of professionals specialized in sanctions compliance, who are employees of worldwide companies. According to an official announcement, Binance will leverage the deep networks, training materials, and broad database of the Association to further improve the expertise and skills of its team. The ACSS was founded in 2018 and it seems that Binance will be its first cryptocurrency exchange member, according to the company.
The crypto exchange’s team of sanctions specialists which includes compliance experts and leads on special investigations and money laundering reporting will have to attend the training provided by the Association.
Binance hopes that the training sessions will enable its sanctions specialists to equip themselves with the freshest guidelines shared by OFAC (the Office of Foreign Assets Control) on how to create compliance schemes and make sure that the team knows the risks coming with violating rules in different jurisdictions.
As stated by the global head of sactions at Binance, given the blockchain industry’s still early eage, the company prioritizes compliance in a volatile environment. He also said that Binance wishes to keep being one of the companies that set the standard in compliance and security in the blockchain industry.
