Binance has spent billions on KYC and anti-money laundering policies

Three key members of Binance's compliance team have opened up on how to deal with criminals' money laundering through exchanges, terrorist financing and negative press, saying that Binance has spent billions of dollars on KYC and anti-money laundering (AML) policies. Stop criminal activity. Binance is reported to have facilitated $780 million in payments related to the Russian-language darknet marketplace Hydra since 2017. Lost 90% of users and billions of dollars in lost revenue after Binance strictly enforced KYC policy.