Binance increases compliance spending budget to $213 million, a year-on-year increase of 35%

ChainCatcher news, according to coingape, Binance has increased its annual compliance spending budget from $158 million to $213 million, a year-on-year increase of 35%.

It is reported that the increased budget has been allocated for the purchase of advanced software systems to effectively identify and report suspicious transactions. The budget increase also includes costs associated with expanding the compliance team, which includes the reappointment of Steve Christie as Deputy Chief Compliance Officer.