Blockchain Analytics Firm CipherTrace to Support Traceability for Binance Chain, BNB

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Menlo Park, California-based CipherTrace, a leading blockchain and Big Data analytics firm, announced on November 5 that it has added support for Binance Chain, a public blockchain network developed by Binance, the world’s largest digital asset exchange. As noted on Binance’s official website: “Binance Chain is the underlying blockchain layer for Binance DEX. Now, with support from CipherTrace, Binance Chain will provide institutional-grade anti-money laundering (AML) controls and transparency.” CipherTrace CEO Dave Jevans stated: “As the blockchain ecosystem continues to mature, investors and regulators across the globe demand better transparency, security and compliance. Binance continues to prove it is serious about protecting its investors and is taking the necessary measures needed to grow and diversify its audience.” CipherTrace says it is planning to help application developers, crypto investors and regulatory agencies to examine the Binance Chain blockchain, in order to identify “high-risk” blockchain addresses and establish controls to help protect…

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