FUD Alert: US Federal Agencies Question Binance, No Accusations of Wrong Doing
Binance, the world’s leading cryptocurrency is facing an investigation from Justice Department and IRS according to a report from Bloomberg. The report cites that the agency involved in investigating money laundering and tax offenses has sought information on crypto transactions on Binance. While there is no direct accusation as such from the investigation agency, the report cites close anonymous sources that investigation agencies have sought necessary trading information on exchange from people aware of Binance businesses.
Binance spokeswoman Jessica Jung in an official statement said that the company cannot comment on matters under investigation but reassured they would work with the agencies and offer full cooperation in the matter. She said,
“We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion. We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity.”
Changpeng Zhao, the CEO of the firm sent out a cryptic tweet right after the news broke out.
So much FUD today.
It’s a pain for some, an opportunity for others.
As per a recent Chainalysis report, the majority of crypto transactions linked to criminal activities have been linked to Binance. The recent cryptocurrency exchange was recently investigated by CFTC for offering leverage trading to US customers as well.
The post FUD Alert: US Federal Agencies Question Binance, No Accusations of Wrong Doing appeared first on Coingape.
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