Binance Users in China, Elsewhere, Evade KYC Controls With Help of ‘Angels’: CNBC
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
:format(jpg)/www.coindesk.com/resizer/9PgithnnELo2sduJqntbvg1dzfE=/arc-photo-coindesk/arc2-prod/public/NFYMYP6EV5CI5FKX73N7QKCYR4.png)
Greg Ahlstrand is CoinDesk’s Asia News Editor. Greg has no significant crypto holdings.
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Some Binance employees and trained “volunteers” are helping users in China and other countries evade Binance’s Know Your Customer (KYC) controls, CNBC reported Wednesday, citing Chinese-language messages from a Binance-controlled Discord server and Telegram group.
The message group participants, called “Angels,” share techniques such as forging bank documents, falsifying addresses and hiding the country of origin to allow users to bypass controls and obtain a Binance debit card, according to the report.
China banned crypto exchanges in 2017, and cryptocurrencies altogether in 2021.
A Binance spokesperson told CNBC that “Binance employees are explicitly forbidden from suggesting or supporting users in circumventing their local laws and regulatory policies, and would be immediately dismissed or audited if found to have violated those policies.”
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Greg Ahlstrand is CoinDesk’s Asia News Editor. Greg has no significant crypto holdings.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Greg Ahlstrand is CoinDesk’s Asia News Editor. Greg has no significant crypto holdings.
