PANews reported on August 21st that Binance has become a founding member of the Beacon Network, the world's first real-time crypto crime response network. Developed by TRM Labs, the network collaborates with leading crypto companies and law enforcement agencies to prevent illicit funds from leaving the blockchain through real-time intelligence sharing and collaboration. As the world's largest cryptocurrency exchange, Binance's participation will strengthen the security of the crypto ecosystem and promote the long-term growth and adoption of crypto assets.

“Blockchain is proving to be one of the most powerful tools in the fight against financial crime,” said Noah Perlman, Binance’s Global Chief Compliance Officer. “The Beacon Network further fosters public-private sector collaboration to ensure we continue to drive down crime on the blockchain.”