The press service of Binance reported that the exchange became a member of the Association of Certified Sanctions Specialists (ACSS), an international organization of professionals to comply with sanctions. As the first crypto exchange to become a member of the ACSS, Binance will use its training materials, databases and networks to further professional development of its employees. All sanctions officers, money laundering managers and investigators must complete the ACSS certification process as part of mandatory training. This will familiarize Binance staff with existing Office of Foreign Assets Control regulations and guidelines regarding compliance systems in different countries. Chagri Poyraz, global head of sanctions at Binance, stressed that blockchain technology is still in the development stage, and it is very important for them to keep up with compliance standards in a changing industry.
The Head noted that the partnership with the ACSS will allow the exchange to achieve the standard of sanctions administration adopted by the respected trade association. Besides, the company will provide its staff with training opportunities. Saskia Ritbrook, executive director of ACSS, guaranteed that working together with Binance and training this team in an ever-evolving field will help advance compliance in digital currencies.