The post Is Criminal Prosecution on the Horizon for Binance? Ripple Attorney Reveals appeared first on Coinpedia Fintech News
After the US SEC sued Binance in June 2023 for violating securities laws, rumors have swirled about a possible DOJ indictment. In the midst of this, the XRP lawsuit ruled that retail XRP sales aren’t securities, which might impact the SEC’s case against Binance.
Now, John Deaton, a prominent figure in the cryptocurrency community, has raised suspicions regarding the actions taken by major financial players Mastercard (MC) and Visa. Deaton’s concerns center around a potential impending criminal prosecution, hinting at the possibility of significant legal actions on the horizon.
He points to the ongoing speculation and predictions that a DOJ indictment could be the aftermath of recent filings by the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC).
Deaton wrote on Twitter, “I have to admit that this distancing by MC & Visa make me suspect that something might be on the horizon related to a criminal prosecution. I was one of the people who said it was likely based on everything we were witnessing. I admit that expected it by now, however.”
Furthermore, a circulating rumor has suggested that government apprehensions surround the potential indictment of Binance, one of the world’s leading cryptocurrency exchanges, and its CEO Changpeng Zhao (CZ).
Cointelegraph reported, “According to an Aug. 2 Semafor report citing people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run on the exchange similar to what happened with FTX in November 2022.”
A report from Semafor on August 2 states that the Justice Department is worried that charging Binance could lead to a rush on the exchange, similar to what happened with FTX in November 2022. They might opt for fines or non-prosecution agreements instead to lessen the impact on users.
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks