AUSTRAC gives Binance 28 days to find auditors - here's why your crypto might be at risk

When Australia's financial watchdog gives you 28 days to find external auditors, it's basically the regulatory equivalent of your mom counting to three. AUSTRAC just handed Binance Australia this ultimatum after discovering what can charitably be described as "gaps" in their money laundering controls - the kind of gaps you could drive a truck full of suspicious transactions through.

The $250 Million Question

Here's where things get wonderfully ironic: Binance recently joined the T3 Financial Crime Unit and proudly announced they've frozen over $250 million in criminal funds. That's impre...