US EditionAustralia Orders Audit of Crypto Trading Giant Binance
AUSTRAC demands Binance Australia's external auditor appointment within 28 days due to inadequate anti-money laundering and counter-terrorism financing controls and oversight.
- Australia's anti-money laundering regulator AUSTRAC has directed Binance Australia to appoint an external auditor after identifying serious concerns with its anti-money laundering and counter terrorism financing controls.
- Binance founder Changpeng 'CZ' Zhao pleaded guilty in 2023 to violating US anti-money laundering laws and served a four-month prison sentence in 2024.
- Binance Australia's general manager Matt Poblocki said the company remains committed to maintaining best compliance standards and will enhance its capabilities.
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Australia orders audit of crypto trading giant Binance
Australia has ordered the local arm of the world's largest cryptocurrency exchange, Binance, to appoint an external auditor after identifying "serious concerns" with its money laundering and terrorism financing controls.
Binance now offers fast, secure, and easy conversion of crypto to fiat currencies directly to a Mastercard card – via sell to card and withdraw to card features. The new “Buy & Sell” feature, available on the web platform and in the app, is launched in partnership with Mastercard Move. Users can sell crypto and instantly transfer fiat funds to the card, or withdraw existing fiat balances. Without switching between different platforms and without…
Australia’s financial watchdog mandates Binance appoint external auditor amongst ‘serious’ AML/CTF concerns
Australia’s financial watchdog has mandated that Binance appoint an external auditory ‘after identifying serious concerns with the crypto exchange’s anti-money laundering and counter terrorism financing (AML/CTF) controls’. The post Australia’s financial watchdog mandates Binance appoint external auditor amongst ‘serious’ AML/CTF concerns first appeared on Asia Gaming News | AGB - Asia Gaming Brief.
Regulators Say Binance Must Tighten Money Laundering, Terrorism Rules - WorldNL Magazine
Beleaguered crypto company Binance must tighten up its compliance controls covering anti-money laundering and counter-terrorism and add an independent auditor if it wants to keep doing business in Australia, regulators said this week. The Australian Transaction Reports and Analysis Centre (AUSTRAC) is mandating the crypto giant put outside auditors in place within 28 days of its decision. The watchdog said that the new rules are intended to addr…
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