Binance Teams Up With Elliptic to Bolster AML Compliance

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As part of its efforts to be regulatory compliant, Malta-based crypto exchange Binance has partnered with startup Elliptic. According to a Coindesk report, the partnership will help Binance mitigate anti-money laundering (AML) concerns as it expands into new regions.

Binance announced a similar partnership with cyber security firm on April 11, describing it as a step towards achieving proper AML compliance.

In the company’s announcement, its Chief Compliance Officer Samuel Lim said, “The selection of as our on-chain security solution will augment our expansion drive and build greater trust among our users, regulators and financial institutions.”

The exchange has also partnered with risk management firm IdentityMind to the same end.

This article originally appeared on Bitcoin Magazine.

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