Australia orders an audit of Binance's operations locally

ChainCatcher news, according to Jinshi reports, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of the operations of the global cryptocurrency exchange Binance in Australia.

In response, Binance stated that Binance Australia fully understands and respects AUSTRAC's decision to appoint external auditors to independently review our anti-money laundering projects. This is one of their regulatory review measures and not an enforcement action. Over the past few months, we have maintained open and transparent communication with AUSTRAC and greatly value their professional guidance and oversight. Binance will always be committed to maintaining industry-leading compliance standards and continuously strengthening its capabilities.

Binance understands that responsible growth means always prioritizing user safety. To this end, we have invested in over 1,200 compliance staff, accounting for nearly 22% of our global workforce, and we expect compliance expenditures to grow by 33% this year. We will also further build and expand local compliance and operational capabilities to ensure a robust governance framework. As the cryptocurrency industry continues to evolve, we will continue to work hand in hand with regulators to uphold the highest industry standards.