The post Binance and Royal Thai Police Join Forces to Combat Crypto Crime appeared on BitcoinEthereumNews.com.

Crypto exchange Binance and the Royal Thai Police combine their expertise to fight the rise in digital-asset-related crimes.  Binance and the Royal Thai Police will reportedly work together to improve the Thai police’s efforts in fighting against the surge in crimes involving crypto.  Digital-Asset Related Crimes on the Rise According to a report by the Bangkok Post, Binance is assisting the Royal Thai Police to improve its ability to combat crimes involving digital assets. Binance, the largest crypto exchange in the world, established an investigation team to help law enforcement fight the surge in crypto crimes.  Jarek Jakubcek, head of law enforcement training at Binance, said: “The cryptocurrency landscape continues to evolve rapidly, and with its significant growth comes the inevitable presence of bad actors.”  The Bangkok Post reports Jakubcek said Binance’s investigation unit would “enhance crime-fighting capabilities across jurisdictions and ensure a coordinated global response to threats posed by digital asset-related crime,” adding, “Investigation is definitely not an option anymore. It has become a necessity for many investigators to solve crypto crimes.”   Exchanges Must Collaborate with Law Enforcement Binance, with over 160 million registered users in over 80 countries, requires customer verification through its KYC procedures. With its broad reach, the exchange already does its part to address crime in the sector and works with local law enforcement to do so.  Binance established a law enforcement training program that helps authorities fight against crypto-related crimes, focusing on how to trace blockchain transactions and interpret information.  Mr Jakubceck commented on the importance of the exchange’s help in the crime-fighting task: “Blockchain is very transparent, and we are taking advantage of this feature. Every time there is a transaction, we can see the money going from one address to another. We can see the amounts, dates, and times of the…

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Filed under: News - @ December 28, 2023 4:04 am