Binance Australia has been aimed at appointing an external auditor for the country’s anti-launch (AML) regulator.
Australian transaction reports and analysis center (Austrac) He said he has identified “serious concerns” with the financing of AML and anti -terrorism of cryptography exchange. (CTF) Controls
Binance Australia has 28 days to nominate external auditors for Austrac consideration.
Austrac said he has marked concerns about the governance of AML/CTF of Binance based on their high rotation of the staff and the lack of local resources and supervision of senior managers.
“We have compromised openly and transparently with Austrac in recent months and we continue to value its orientation, experience and supervision,” said Matt Poplocki, general manager of Binance Australia and New Zealand, according to a Bloomberg report. “We remain committed to maintaining the best compliance standards and we will continually improve our capabilities.”
Binance did not immediately respond to Coindesk’s request to make more comments.
The Binance Empire has had a difficult relationship with regulators over the years. A series of regulatory bodies issued warnings about the authorization of the exchange (or lack of it) to operate in 2021. This reached a critical point in 2024 when Founder Changpeng “CZ” Zhao was sentenced to four months in the Federal Prison of the United States after declaring himself guilty for violating money laundering laws.
Austrac has been trying to adopt a proactive approach for its supervision of the digital asset industry in recent months, recently promulgating a series of measures on ATM suppliers about concerns about their alleged use for scams.
