European police: Binance tightens law enforcement cooperation, making it much more difficult to combat financial crime

According to The New York Times, the world's largest cryptocurrency exchange Binance quietly adjusted its law enforcement cooperation policy last April, requiring law enforcement agencies in various countries to forward relevant requests to foreign government agencies for processing, which must go through international treaty procedures, significantly extending the response time.

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 forwarded to the UAE government, where Binance is registered, severely hindering investigations.

Meanwhile, several senior employees from Binance's compliance team have left one after another, further intensifying external concerns. Binance denied slowing down cooperation, stating that this move aims to ensure compliance with data privacy regulations.