Binance is in full cooperation with the CCP

Produced by: MOS Video Department

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Binance is a strategic platform for the CCP

Offering NFT is a big move

But the most worrisome is its LERS

Law Enforcement Request System

Sounds complicated

Binance’s Chinese webpage has a detailed explanation

To make sure everybody understand this

It’s a formal way to grant the CCP access to Binance’s system

making inquiries to client data

This is a huge deal

Why

Because in the so-called “de-centralized” world of Blockchain or Crypto

trading platforms are entities extremely centralized

All clients’ data are gathered by the platforms

stored in a centralized data center

Including their client’s KYC information

All clients’ personal info

Which country are you from

your residence? All available

All your crypto keys

Your transaction record

And your real-world bank account

And your historic records on the platform

What can the CCP do about it?

Their National security can directly control this platform

Or to have remote access to its data center

The CCP can check whatever it wants to check

Check your trade record from any date

Check your transactions

As soon as they find your cash-out record

even if your major asset is not in Binance

CCP can see everything

Also since the Ethereum and Bitcoin are public ledgers

CCP can know everything about your crypto accounts and transaction record

Posted by: Xueli

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Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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