Binance Australia Focuses on Strengthening User Protection
Hassan Maishera - Cryptowisser
Binance Australia has revealed in a recent report that its research and development activities focus on strengthening user protection.
The Binance Australia team announced in a blog post on Wednesday that it has focused on strengthening user protection in recent months. The Binance Australia team revealed this in its recent Environmental, Social, and Governance (ESG) update.
According to the report, the Binance Australia research and development activities focused on two distinct areas; crypto adoption and protecting users. In the area of adoption, crypto utility with payment services firms continued to progress positively, with a goal of securing crypto cards and utilizing crypto for payments under Binance Pay.
Furthermore, research into user groups that saw a higher statistical occurrence of financial crime will see the implementation of a stringent and user-focused onboarding experience for those users in the coming quarter, the team added.
Leigh Travers, Chief Executive Officer of Binance Australia, commented that;
There are numerous highlights for our second ESG update with Socialsuite, including; the continued tree planting initiatives with Koala Clancy Foundation, local community support as a sponsor of the Sydney Film Festival and all important crypto education activities on crypto tax.
Binance Australia said it is a fully compliant and progressive Australian fintech brand that empowers customers and corporate institutions to access alternative, low-cost digital assets and products. The company said it is on a mission to make a positive impact on society by helping Australians achieve greater financial freedom and addressing important factors facing humanity, including ESG.
In terms of regulation and governance, Binance Australia said it delivered a well-considered recommendation to Treasury on licensing and custody requirements for crypto-asset exchanges. This is part of its commitment to work with Australian policymakers and regulators to contribute to developing a regulatory framework with consumer protection and market integrity at its heart.
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