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Latest Crypto News: Binance Starts Training Program For Law Enforcement Officials To Nab Criminals, Crypto.com Gets Nod To Operate In France

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Latest Crypto News: Binance Starts Training Program For Law Enforcement Officials To Nab Criminals, Crypto.com Gets Nod To Operate In France

The following are some of the latest developments in the crypto space.

Binance, the world's largest cryptocurrency trading platform, on Tuesday said it started a global training programme for law enforcement officials on identifying cybercriminals. The programme is in response to the growing demand for assistance from public and private institutions.

In a statement, Binance said it is the first such globally coordinated effort in the industry. Besides crime detection, the training programme includes assistance in prosecuting "bad actors who exploit digital assets," it said.

"We work hand-in-hand with law enforcement to track suspected accounts and fraudulent activities, contributing to the fight against terrorism financing, ransomware, human trafficking, child pornography, and financial crimes," Tigran Gambaryan, Binance's vice president of global intelligence and investigations, said in the statement.

Last month, the Federal Bureau of Investigation (FBI) issued a warning about how hackers were increasingly using flaws in the decentralised finance system (DeFi) to steal investors' money. The agency, citing data from blockchain analysis firm, Chainalysis, said hackers stole $1.3 billion in cryptocurrencies in the first three months of 2022, accounting for roughly 97 per cent of the stolen assets from DeFi platforms.

Crypto.com Gets Nod to Work In France

The Singapore-based digital asset trading platform, Crypto.com, has received authorisation to function as a Digital Asset Service Provider (DASP) in France, the company stated on Wednesday.

According to a press release, the platform has registered with the Autorité des Marchés Financiers (AMF), France's primary market regulator. "Crypto.com was subject to rigorous review, particularly around anti-money laundering and combating the financing of terrorism, in order to receive regulatory approval," it said.

SWIFT Ties With Chainlink

Chainlink, which offers price feeds and other data to blockchains, is collaborating with SWIFT, an interbank messaging system that enables cross-border payments, on a cross-chain interoperability protocol (CCIP). By enabling on-chain token transfer instructions via SWIFT messaging, CCIP facilitates the interbank network to interface with all types of blockchain settings.

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