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According to Reuters, the US Department of Justice Accuses Binance!


According to Reuters, the US Department of Justice Accuses Binance! US prosecutors investigating crypto exchange Binance are divided on how to move the case forward, according to a Reuters report. Binance and some of its executives are being investigated for possible financial violations and criminal penalties. Block contacted Binance and the DOJ for comment.

According to Reuters, the Department of Justice in the United States continues to investigate allegations of the largest crypto exchange Binance for illegal financial violations and criminal penalties. It is monitoring the reform’s leaders, including CEO Changpeng Zhao (CZ), according to reports.

Disputes between prosecutors are delaying any possible conclusion to the criminal investigation, the report said, citing four people familiar with the matter.

The investigation continues since 2018 and covers prosecutors from three different agencies, including the Money Laundering and Asset Recovery Section, U.S. Attorney’s Office for the Western District of Washington and Seattle, and the National Defense Team fight against cryptocurrency. Some of the activists believe the evidence supports taking “violent” action against the reform, according to reports. Others want to take more time to analyze the evidence.

Binance’s law firm, Gibson Dunn, has held meetings with senior justice officials in recent months, Reuters sources say, arguing that criminal cases like this one will be included. even pressure on the crypto market that is getting stronger. Three people said the talks included a possible plea deal.

“As widely reported, regulators are conducting thorough investigations of each crypto company against many of the same issues,” a Binance spokesperson said. “This industry is growing rapidly, and Binance has demonstrated its commitment to security and compliance by investing heavily in our team and in the tools and technology we use to detect and prevent malicious activity.”

The group reached out to the DOJ for comment, but had not heard back by press time.

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Earlier this year, Reuters reported that prosecutors in the United States requested CZ’s communications records in late 2020. The U.S. Treasury Department and the U.S. Department of Justice refused to allow the exchange to hand over information about its investigation of illegal transactions and recruitment of U.S. customers.

The prosecutors’ demands extended to all messages asking users to “destroy, modify, or delete Binance documents and files” or “transfer to the United States.” The petition included CZ and 12 other principals and associates.

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