Binance is the most trustworthy cryptoexchange in spite of light regulation

Binance is the most trustworthy cryptoexchange in spite of light regulation
Dec 24, 2018 by Rico Wise

Chief executive of the FX hedge fund, Three Arrows Capital, stated that Binance is the most trustworthy cryptoexchange among the financiers of the cryptocommunity. In most areas, legislators double down on cryptotrading activities in order to exercise AML policies and prevent terrorist financing.

Despite the fact that the main network of Binance targets exclusively crypto-to-crypto trading services, it also runs severely compliant fiat-to-crypto trading platforms in Uganda and – in the nearest future – in Singapore, receiving support from local authorities, as well as financial institutions of Singapore.

Binance fits the description of a lightly regulated cryotoexchange, comparing to cryptoexchanges in the United States, which are demanded to operate within strict regulatory frameworks, although its Ugandan and Singaporean fiat branches comply with regulations as strict as the ones in the United States, South Korea, and Japan.

The firm definitely takes advantage of the digital currency-friendly policies introduced by Malta to assist the progress of the development of the Maltese digital currency marketplace. Still, as a nation of the European union, Malta also has a financial regulatory framework which is not up for compromising and has to be adhered to by Binance.

Starting from its launch, Binance has especially highlighted the necessity of advanced security standards and financier protection. To this day, the cryptoexchange is considered to be one of the most prestigious of them all, together with such platforms as Coinbase and a number of others that did not encounter any cyberattacks or hacks since their launch. The trust of the financiers and cryptotraders for Binance most possibly derives from the track records of the firm and the effective intercommunication of the company’s execs and its community.