BNB
by BSCN
September 9, 2022
Binance has been requested to provide internal records by US Federal prosecutors during a legal probe.
Global cryptocurrency exchange Binance has been under US federal investigation since late 2020 according to this report by Reuters. The exchange and thirteen of its senior officers, including CEO Changpeng Zhao (CZ), have been asked to provide internal records.
The documents are regarding it’s anti-money laundering processes as well as any company records instructing documentation to be “destroyed, altered, or removed from Binance’s files” or “transferred from the United States.”
Compliance with local regulatory requirements has been top of mind for the crypto space. Binance, who’s been an active recruiter for its security, regulations and legal division, saw approximately $2.35 billion in illicit funds laundered through the exchange, according to findings by Reuters.
It’s important to remember that the entity most understand to be Binance does not technically operate in the United States. In 2019, Binance.US, which Reuters claims to be owned by CZ, was registered with the US Treasury and serves the US base. The Reuters piece goes on to state that the US Justice Department is further investigating why Binance.US exists in light of the broader Binance exchange.
The senior executive team has been requested to hand over information that could illuminate the relationship between the two entities.
Latest News
October 22, 2024
Do Betting Odds Know Best?
October 22, 2024
Michael Saylor's Legacy: Donating His Bitcoin Wealth to Humanity, Inspired by Satoshi Nakamoto
October 22, 2024
MakerDAO May Return as Core Brand After Sky Rebrand Faces Backlash
October 22, 2024
Bitcoin Spot ETFs Records $2.67B in Inflows in Just One Week
October 22, 2024
Chainlink and ANZ Collaborate on Private Transactions for Tokenized Real-World Assets
October 21, 2024
Transak Data Breach Exposes 92K Users: Employee Phishing Attack, Ransomware Group Claims Responsibility
October 21, 2024
Ripple Co-Founder Chris Larsen Donates $10 Million to Kamala Harris' Presidential Campaign Amid Divided Crypto Industry Support
October 21, 2024
Pump.fun Unveils New "Pump Advance" Trading Terminal, Teases Native Token Release