At the same time as the multilateral sanctions against Russia and the US sanctions against Iran, the Binance exchange has been put under the microscope by the legislators in the US and Europe. Binance is taking steps to control attacks in this regard, the latest of which is joining the “Association of Sanctioning Specialists (ACSS)”.
According to Mihan Blockchain and quoted by Cointelegraph, Binance is one of the first crypto companies to join the Association of Certified Sanctions Specialists (ACSS). Binance exchange in Statement On January 6th (16th), he admitted that he is training the personnel team in charge of sanctions in this exchange. It should be mentioned that this action is part of the process of obtaining a license in the ACSS Union.
According to information on the union’s website, the group organized and administered a test on “the knowledge and skills common to all sanctions professionals in various work situations.” Chagri Poyraz, head of Binance’s global sanctions department, said:
The blockchain industry is still in its infancy. Our priority is to continuously strengthen the highest level of compliance in a field that is witnessing rapid evolution. Together with other people and organizations in the industry, we aim to create a standard for security and compliance.
Binance also tweeted about joining ACSS:
Binance joins the Association of Sanctions Professionals (ACSS).
As the first crypto exchange to join this alliance, we plan to use ACSS’s educational materials, databases and networks to improve compliance standards in the crypto industry.
Poyraz had stated in October that Binance was complying with the laws related to the sanctions against Russia after the country’s military attack on Ukraine, but there is still room for improvement regarding the transparency of the European Union directives on the crypto industry. Also, there have been reports that acknowledged that Binance exchange has allowed Iranian users to access certain services. This issue is a violation of US sanctions and has led to the review and scrutiny of institutions and officials from Binance.
According to Binance, the ACSS courses educate the Binance team about the Office of Foreign Assets Control (OFAC) guidelines and inform them of the potential risks of violating these guidelines. Binance also joined the Chamber of Digital Commerce in December. Binance’s goal of this action has been to try for legal transparency in the United States. However, some policymakers have targeted and criticized this exchange for violating anti-money laundering laws and sanctions.
Author’s comment: This action of Binance, which is a sign of tightening the circle of legislators on the Binance exchange, also has consequences for users living in sanctioned countries such as Iran. Those who use non-authentic authentication and virtual servers of other countries to connect with Binance should be more serious in observing security points and strictly avoid keeping assets in centralized exchanges, especially Binance, and use secure wallets (preferably hardware). .