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The balance between security and innovation in crypto

It seems like in the process of crypto development security reasons and innovation are clashing. The cryptocurrency space is moving so fast that there is a new trend every year: only a few years have passed from Initial Coin Offerings (ICOs) to irreplaceable tokens (NFT). In the face of such impressive innovations, crypto companies and regulators face a growing challenge: aligning security practices with new products and features. The approach of some companies is to act quickly and adopt new innovations as they become available, leaving security processes such as Know Your Customer (KYC) and Anti-Money Laundering Inspections (AML) as secondary objectives. Popular cryptocurrency exchange Binance appears to have used this strategy this year when regulators began investigating.Binance’s KYC guidelines allow users who do not fully verify their identity to download up to 2 BTC per day. Margin pairs listed for major fiat currencies allow leverage of up to 125x of their futures trading platf

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