I recently read that Binance helped Taiwanese authorities bust a massive money laundering ring. This made me wonder if Binance is finally trying to clean up its act. Are they trying to shake off their "wild west" reputation and gain legitimacy with regulators? Or is this just a ploy to keep their ex-CEO, CZ, out of jail?

It seems Binance played a crucial role in the Taiwan case, using their blockchain expertise to track suspicious transactions and provide key intelligence. This is a far cry from their past image as a haven for illicit activities. Could this be a sign of a genuine change of heart?

I'm skeptical, but I'm also intrigued. The amount laundered, $6 million, is a drop in the bucket compared to the billions that regularly flow through illicit channels. While estimates vary, it's believed that crypto laundering accounts for less than 1% of all money laundering. If Binance is genuinely trying to reform, it could be a major turning point for the crypto industry. I'm wondering if US crypto exchanges are doing the same. Coinbase, for example, has always emphasized its commitment to compliance, and Gemini has also made efforts to work with regulators.

The world is watching, and the stakes are high for Binance. Will this be the start of a new era for the exchange, or just another chapter in its controversial history?