Binance has joined the Association of Certified Sanctions Specialists (ACSS) in an effort to stay in compliance with global sanctions.
In a statement on Jan. 6, Binance stated that its staff members responsible for sanctions compliance would attend training as part of the ACSS certification procedure.
The organization issued a test covering “information and abilities common to all sanctions professionals in diverse employment situations,” according to the association’s website.
“The blockchain industry is still in its early years, and it’s our priority to continue upholding the highest level of compliance amid a fast-evolving space,” said Binance’s global head of sanctions, Chagri Poyraz. “At the end of the day, we want to continue setting the industry standard for security and compliance alongside other industry players.”
In response to Russia’s invasion of Ukraine, Poyraz stated in October that the exchange complied with international sanctions against Russia, but noted that there was “room for improvement when it comes to clarity” in the European Union’s crypto regulations.
Additionally, according to reports, Binance may have disregarded US sanctions by providing access to some services to users in Iran. This has drawn the attention of authorities.
According to Binance, the ACSS training will inform the exchange’s team of potential risks of violations as well as the rules from the Office of Foreign Assets Control of the U.S. Treasury.
According to its website, the exchange, one of the biggest in the cryptocurrency industry, is accessible in more than 100 countries and has a variety of licensing and regulatory requirements.
Binance also become a member of the crypto lobbying group Chamber of Digital Commerce in December as part of its campaign to support American regulatory clarity.
The exchange, however, has apparently come under scrutiny from some international officials for alleged transgressions of sanctions and anti-money laundering legislation.
