Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::“Can barely buy an AK-47 with 600 bucks,” a Binance compliance staffer told his boss in 2019, per regulators.
Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::“Can barely buy an AK-47 with 600 bucks,” a Binance compliance staffer told his boss in 2019, per regulators.
The problem is that the auditors will ALWAYS find wrongdoing, even if it doesn’t exist. If their funding (and therefore their jobs) depend on fines on offending organizations, then everyone is getting found to be fraudulent
That’s definitely a real problem that would need to be considered. I’m sure it has been in great length. My gut feeling says it’s workable though and the problem being more political than technical.