European Police: Binance Tightens Law Enforcement Cooperation, Significantly Increasing Difficulty in Combating Financial Crime

TechFlow News, July 29, according to The New York Times, the world's largest cryptocurrency exchange Binance quietly adjusted its law enforcement cooperation policy in April last year, requiring law enforcement agencies from various countries to transfer relevant requests to foreign government agencies for processing, which must go through international treaty procedures, significantly extending the response cycle. Police representatives from five European countries reported at a law enforcement meeting in the Netherlands that except for urgent cases involving child sexual abuse, terrorism, or threats to life, the vast majority of requests were transferred to the UAE government, where Binance is registered, leading to serious impediments to investigations.

Meanwhile, multiple senior employees of Binance's compliance team have resigned successively, further exacerbating external concerns. Binance denied slowing cooperation, stating that this move aims to ensure compliance with data privacy regulations.