Binance begins training law enforcement agencies to combat crypto crimes

As part of this initiative, the exchange will form a special group of former officials and government representatives

28.09.2022 - 12:15

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What’s new? Cryptocurrency exchange Binance has launched a global law enforcement training program to better prepare government agencies to solve crimes involving digital assets. According to Yahoo Finance, as part of this initiative, the platform is forming a special team that will include former officials and law enforcement officers.

Material by Yahoo.Finance

What else is known about the initiative? Matt Price, senior director of investigations for Binance, said that he regularly contacts the US Federal Bureau of Investigation (FBI) and other security agencies, passing on information about crypto crimes. Since November 2021, Binance’s investigations team has responded to more than 27 000 law enforcement requests.

Tigran Gambaryan, global head of intelligence and investigations at the exchange and a former special agent of the US Internal Revenue Service, commented on the initiative as follows:

“As more regulators and public law enforcement agencies look at crypto, Binance is seeing demand for training to help educate on and combat crypto crimes.”

Binance previously hired the ex-president of Brazil’s Central Bank Henrique Meirelles as an adviser. He also served as Brazil’s Minister of Economy from 2016 to 2018.

In September, the White House released the first-ever framework for regulating cryptocurrencies in the United States, including ways to develop the financial services industry to facilitate borderless transactions and ways to combat fraud in the field of digital assets.

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