I dug into the terms of Binance's settlement with the US government. The world's biggest crypto exchange is about to open its entire database of transaction records to US regulators and law enforcement for a "24/7, 365-days-a-year financial colonoscopy."
Yes, that means a retroactive exposure of any of Binance's transaction going back years.
Binance's chief compliance officer says users "have nothing to worry about as long as they're not part of the very small, small group of users that use crypto for illicit purposes."
@agreenberg Interestingly, #Binance refuses to release absolute basic information every #business regardless of size would be forced under the threat of getting disbanded and all CxOs arrested until they comply.
Simple things, like "Where is your business headquartered?" and "What legal form are you incorporated under?"...
I mean, everyone knows they are a money laundering and Crypto Cashout for everyone sanctioned by the U.S. Government...
They didn't even bother to comply to #KYC & #AML...
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