Binance has been in trouble with US justice for some time. The authorities still do not seem convinced of the reliability of the platform. In this context, three US senators have just recently brought serious charges against the crypto exchange. Here is what it is.
Lawmakers suspect Binance of money laundering
US Senators Elizabeth Warren, Chris Van Hollen and Roger Marshall sent a letter to CZ on Wednesday. The Wall Street Journal recently reported the gist of the letter’s contents. It turns out that in the latter, lawmakers are demanding an explanation from Binance’s CEO. They would like that the exchange provide details of its balance sheets and its internal procedures. They would like to have all the proof that Changpeng Zhao is really fighting to ensure compliance for his company.
According to the letter from the lawmakers, Binance and its related entities have things to blame themselves for. Indeed, they would have deliberately evaded regulators, transferred assets to criminals as well as fraudsters, and withheld basic financial information from its clients and the public “. US senators have added that they view Binance as a “ hotbed of illegal financial activity “.
A company spokesperson denies the charges.
A Binance spokesperson reacted to the lawmakers’ claims. He indicated that the latter’s accusations were far from true. He pointed out that Binance has always taken care to respond to requests from the courts where it offers services.
The exchange’s spokesperson said: A lot of misinformation has been spread about our company, and we look forward to correcting the facts. “. He added that the Binance.com company does not offer any services in the United States and there are no customers there. On the other hand, its subsidiary Binance.US operates in the region.
It appears that Binance intends to respond appropriately to the accusations of the three US senators. With this in mind, the crypto business will provide them with the necessary information. These should ” help them better understand why we remain the most trusted platform with users around the world “said the spokesperson. In addition, it seems that the largest crypto exchange in the world is preparing to receive large fines. These would be related to the conduct that CZ’s business has had in the past.
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