People familiar with the matter: Binance is forming an alliance of encryption companies, and companies such as project parties and exchanges have already participated

According to Coindesk citing sources, Binance is helping to form a coalition of crypto companies in an effort to rebuild trust in the industry and play an active role in upcoming regulations. At present, many companies in the encryption field have signed up to join, including project parties, exchanges, and blockchain analysis companies. The consortium will not be run by Binance, but "will be run in as decentralized a fashion as possible across many different projects to ensure alignment with the community," the source said, adding that its initial goal is to work with Regulators around the world cooperate and demonstrate how advanced the industry is in fighting criminals, while "also ensuring that there is a mechanism to point out shortcomings and bad behavior in the industry and help prevent larger problems from spreading".