Interestingly, Binance itself is now a client of the DHS-funded CipherTrace, based in Menlo Park, California, one of the first security firms with technology explicitly designed to investigate on-chain transactions of the exchange’s own cryptocurrency. A representative of the Department tells Forbes that Binance.US did participate in the Cornerstone program, as a standard part of the process of becoming a Money Service Business, but declined to comment further. Department of Homeland Security (DHS) Cornerstone Program for detecting weaknesses in the financial systems. To do this, the document advocates for participating in the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC), the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the New York Department of Financial Services (NYDFS). More specifically, it describes a detailed strategy for distracting the U.S. sanctions enforcement” to detect illicit activity. It explicitly mentions the need to undermine the ability of “anti-money laundering and U.S. The first goal, enforcement mitigation, is designed to minimize the impact of U.S.
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The strategy document has four main components, Goals, Proposed Corporate Structure, Regulator Engagement Plans and Long Term License Plans. One of the slides from the leaked slideshow, purporting to show how the "Tai-Chi Entity" could be connected to Binance.
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