The Cybercrime Investigation and Coordination Center or CICC is a crucial part of a special department of the Philippines government that works in the IT sector and governs many aspects of this industry to ensure that all business operations are conducted in accordance with the law. With the rise of cybercrime and money laundering in the crypto industry, cooperation on the global level is required to battle new threats.
Binance has many experts in the field of crypto finances
The global crypto exchange is the biggest entity of its type in the whole industry with a multinational presence and over 17% market share. It is a leading technology platform that uses a variety of new approaches to publishing, financing, and marketing decentralized applications and NFTs. The technological expertise of the company is immense.
Binance has a lot to offer to ensure that blockchain forensics are efficient and allow for more result-oriented cybercrime prosecution conducted by government officials. The company will share its knowledge of money-laundering routes, typical tricks employed by hackers, potential ways of theft and exploiting vulnerabilities, etc. The Philippines is a nation that has seen a lot of new emerging activity in the crypto sector recently and wants to be prepared for the worst.
Binance is a respected brokerage service provider and the largest spot exchange in the crypto industry. It does not tolerate double registrations, follows a strict KYC code, and prevents anonymous activities on its platforms as well as payments from unrecognized sources that may be breaching rules laid out in AML rules.
Binance’s cooperation with law enforcement is a step in the right direction
We have been talking a lot about how crypto markets require more regulation and trust from laymen. Without any guarantees that their funds are protected, people simply won’t risk trying to use Bitcoin, Ethereum, or any other token. If companies like Binance start cooperating with governments and law enforcement more, it will create a better image of cryptocurrency as a concept.
We hope that this particular initiative will bring more collaborations between organizations like the CICC and crypto industry participants.
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