The London-based card payment processor company terminated its partnership with the Binance crypto exchange.
Binance is a top-level crypto exchange, thanks to its highly secured & responsive crypto services. In the crypto sector, the majority of the crypto traders choose Binance crypto services, as the services of this exchange remain always better to understand. Binance also provides lite crypto services, which helps newbies to trade crypto assets without going through any complicated functions.
On 18 Aug 2023, Forbes reported that Checkoutcom, a London-based card processor company, terminated its commercial contract with Binance a couple of days ago.
Reportedly the Checkoutdom team noted that they are not able to follow all the anti-money laundering (AML) measures during the interconnected services with the Binance exchange.
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In recent months, Checkoutdom helped to process nearly $300-400 million in funds for Binance customers. In response to Checkoutdom’s decision, the Binance team planned to take legal action against Checkoutdom’s company over violation of the contract without any suitable reason.
It is worth it to note that, the Binance team helps the enforcement agencies around the world to catch the bad actors related to crypto crimes several times, as Binance has better crypto transaction tracking tools to catch illegal transactions.
Probably Checkoutdom is kind of taking action without any deep study & analysis of the potential of the Binance exchange.
Binance Exchange always tries to remain transparent with its customers. Just a day ago, Binance CEO Changpeng Zhao (CZ) informed the followers that he & all the Binance employees are strictly prohibited to trade any crypto assets in the futures market.
币安员工（包括我）禁止期货交易。产品测试团队有专门分配的限额账号。
咱只hold！
— CZ
Binance (@cz_binance) August 18, 2023
Also in the past, Binance CEO confirmed that no Binance employee is allowed to sell his crypto asset before 90 days of buying period, and also a dedicated team traces the employee’s crypto-related activities.
Read also: Ethereum co-founder slams Cardano critic
Checkout.com terminates partnership with Binance
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