Crypto exchange Binance to step up anti-money laundering checks

Cryptocurrency exchange Binance said on Friday it would demand stricter background checks on customers to bolster efforts against money laundering, with immediate effect, a move that comes after weeks of pressure by regulators globally.

Binance, the world’s biggest crypto platform, has faced warnings and business curbs from financial watchdogs from Britain and Germany to Japan, who are concerned over the use of crypto in money laundering and risks to consumers.