Binance: Austrac orders crypto exchange to appoint auditor amid money laundering threat
The financial crimes regulator has ordered the Australian branch of a massive crypto exchange to appoint an auditor amid “serious concerns” about money laundering.
AUSTRAC on Friday rang the alarm over Binance Global’s local business Investbybit Pty Ltd, giving the company 28 days to bring in experts for a review of operations.
Binance is the world’s biggest crypto platform and carries billions of dollars of trades every day.
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But the watchdog was worried about potentially inadequate governance of money laundering risks and lack…
