Binance has announced that Nils Andersen-Roed has joined the company’s audit team. Andersen has straightway told the officials that he will begin his operations by conducting investigations regarding the individuals who have used or trying to use the Binance platform for illegal activities.
However, experts have opinioned that the current decision by the company shows the statement of intent. Binance till today has been criticized because of its lack of attention to the regulatory mechanism. The company also faced legal actions worldwide. Apart from its legal side, Binance is also being criticized because of its lack of intent towards the improved protection of Binance exchange.
But it seems that Binance has finally decided to cope with the security issues. The hiring of Europol veteran investigator Nils Andersen-Roed as the company’s director of audit and investigations has certainly made the headlines.
As part of his large vision, the newly hired director of investigations has ordered to launch internal and external investigations.
The purpose is to track down the digital identity of those individuals who are using Binance’s platform for illegal purposes. These illegal purposes include digital theft, identity theft, cybercrime, and laundering money digitally.
Andersen also vowed that he would do his best to enhance the overall security of the Binance exchange. Apart from that, the company’s new strategic direction also focuses on involving law enforcement agencies in the company’s investigations. This means the company will regularly inform the law enforcement agencies about the outcomes of its investigations.
However, the crypto community seems to be happy about the decision. Experts do believe that Andresen’s profile and experience on the matter will help Binance to get rid of its security and legal worries. This move could lead Binance in a whole new direction that is good for both company and company traders as well.
As of this writing, Andersen-Röed spent almost three years on Europol’s Dark Web Team, a multi-agency initiative to reduce dark web crime. He significantly reduced the crimes. But the crypto market is bit different and diverse as compared to dark web and level of stakes are far greater than the dark web.“I’m driven by the single passion of making the cryptocurrency industry (and Binance in particular) a safer market for the consumers,” Andersen said in a blog post.
He further said that he will take the cross-departmental collaboration to the international level. He said that criminals don’t care about the borders, so there is no second thought about Binance contacting law enforcement agencies in multiple countries of the world. The goal here for Binance is to bolster its regulatory policies. As of this writing, the company is also facing new investigations against it in the United States of America.