Cryptocurrencies have long been associated with financial crimes, leading many to believe that digital assets are a haven for money laundering, corruption, and drug trafficking. However, Tigran Gambaryan, head of Binance Financial Crimes Compliance, aims to change that perception by shedding light on the transparency that blockchain technology provides.
In a new series of videos launched by Binance, Gambaryan talks about his experience in law enforcement, where he spent more than 10 years fighting financial crimes such as money laundering, drug trafficking, and public corruption. It was during his time at the US Internal Revenue Service that Gambaryan first encountered cryptocurrencies while working on an investigation job.
From Law Enforcement to Cryptocurrencies
“I met cryptocurrencies while practicing my profession. The transparency of digital assets with blockchain technology impressed me a lot. Then I started working in the crypto industry,” Gambaryan said.
Since 2012, Gambaryan has been working in the cryptocurrency industry, where he emphasizes that financial crimes are much easier to identify and investigate thanks to the transparency that blockchain technology provides. He has played a crucial role in the development of technology programs within the government and the Treasury Department, making significant strides in fighting financial crimes such as money laundering, public corruption, and drug trafficking.
The Importance of Transparency
The transparency that blockchain technology provides is what sets cryptocurrencies apart from traditional financial systems. Every transaction that occurs on the blockchain is recorded and can be traced back to its origin, making it easier to identify suspicious activity.
With this level of transparency, Gambaryan and his team at Binance can monitor and track any suspicious transactions, making it easier to detect and prevent financial crimes. Gambaryan’s expertise in law enforcement has been instrumental in implementing measures to combat financial crimes within the cryptocurrency industry.
Conclusion
Cryptocurrencies have been a target of criticism for years due to their association with financial crimes. However, Gambaryan’s work at Binance is shedding light on the transparency that blockchain technology provides, which makes cryptocurrencies a more reliable and secure form of financial transactions.
Gambaryan’s expertise in law enforcement has been critical in the development of technology programs that have dealt significant blows to financial crimes such as money laundering, drug trafficking, and public corruption. With Gambaryan’s leadership, Binance is leading the charge in the fight against financial crimes in the cryptocurrency industry.
