Binance quietly changed its law-enforcement cooperation policy in April last year, according to The New York Times, introducing a process that requires authorities in various countries to route requests through foreign government agencies and international treaty channels. The report said the change has materially extended response times.
Police representatives from five European countries said at an enforcement meeting in the Netherlands that, except for urgent cases involving child sexual abuse, terrorism, or threats to life, most requests were redirected to the government of the United Arab Emirates, where Binance is registered. They said the arrangement had seriously hindered investigations.
At the same time, several senior members of Binance’s compliance team have left the company, adding to outside concern. Binance denied that it had slowed cooperation and said the policy was intended to ensure compliance with data privacy rules.
Binance, the world’s largest cryptocurrency exchange, quietly changed its law-enforcement cooperation policy in April last year, The New York Times reported, requiring authorities in different countries to send related requests through foreign government agencies and international treaty procedures. The shift has significantly lengthened response times.
Police representatives from five European countries said at an enforcement meeting in the Netherlands that, apart from urgent cases involving child sexual abuse, terrorism, or threats to life, most requests were redirected to the government of the United Arab Emirates, where Binance is registered. They said the process had seriously obstructed investigations.
Several senior employees on Binance’s compliance team have also left the company, adding to concerns outside the exchange. Binance denied slowing cooperation and said the measure was designed to ensure compliance with data privacy regulations.
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