Binance is running two developments simultaneously, one as support for the Vite Network upgrade and another as the host of crypto events in critical regions like Australia.
To begin with, Binance has announced its support for the Vite Network. According to the announcement, the platform has committed to assisting with the Vite Network’s upgrade. It is tentatively scheduled to happen on February 28, 2023, at 2:00 UTC. While the trading activity will not be hampered, the platform will temporarily halt its deposit and withdrawal processes on the same day starting at 1:00 UTC.
These time frames are for reference only, in accordance with the announcement by Binance. Deposits and withdrawals will resume on Binance once the platform finds the network stable for operations. All the technical requirements for Binance accounts will be automatically handled by Binance, a reputed crypto exchange whose details can be read in our Binance review.
Briefly talking about the platform, it was founded in 2017 with headquarters in Malta and BB as the native token. More than a hundred cryptocurrencies are listed on Binance, and users can choose from more than a hundred trading pairs to spread out their holdings.
There are rumors that Binance is leaving no stone unturned in its efforts to propel the blockchain industry to new heights. This is for all the right reasons, particularly if its efforts to educate the public about the cryptosphere are taken into account. Binance recently hosted a training workshop in Australia to meet with Australian Federal Police personnel.
The goal was to educate them about how the industry works and develop a mechanism to avoid any crime-related activity. Australia has responded well to the workshop conducted by Binance, signaling that Web3 events are truly one of the best ways to educate the world about the crypto industry and deal with the issues being faced.
This is part of the goal to collaborate and help law enforcement agencies around the world deal with crypto crimes and curb them to the lowest possible level.
Stefan Jerga, the head of the new unit, has acknowledged that there are issues with the crypto industry when it comes to criminal activities. Stefan has also said that while the steps taken may target assets, it is important to have investigative tracing capabilities that help the agencies curb crimes in the region.
Binance aims to take the crypto industry to new heights, primarily through its Global Law Enforcement Training Program, which was launched in September 2022 to expose law enforcement agencies to the principle of cryptocurrency and the concept of managing criminal activities.
The program runs for a single day, with Binance conducting physical workshops on cryptocurrency, blockchain, anti-money laundering policies, and legal issues.
Binance hopes to accelerate cryptocurrency adoption with safety by leveraging network upgrades and a crypto program. This is likely to deliver positive results.