"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," the spokesperson added. "We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion," a spokesperson for Binance said in an email, adding that the company does not comment on specific matters or inquiries.
Given how things have been going in crypto markets over the past year, every collapse intensifies scrutiny of the companies still standing.May 13 (Reuters) - Binance, one of the world's largest cryptocurrency exchanges, is under investigation by the Justice Department and Internal Revenue Service, Bloomberg News reported on Thursday, citing people with knowledge of the matter.Īs part of the inquiry, the officials who probe money laundering and tax offenses have sought information from individuals with insight into Binance's business, the report said. derivatives traders access to its exchange rather than its U.S.-based arm, Binance US. According to an investigation by The Wall Street Journal and interviews with former workers between 20, Binance embarked on a plan to disarm U.S. News of that investigation was first made public in 2021, the same year the CFTC tried to determine if the company had given U.S. Crypto exchange Binance is being investigated by the US Commodity Trading Futures Commission (CTFC) for allegedly allowing American traders to place wages that go against US regulations. Meanwhile, there has also been a separate ongoing investigation by the Commodities Future Trading Commission (CFTC) regarding possible insider trading at Binance. “We gave support before, but we won’t pretend to make love after divorce.” “Liquidating our FTT is just post-exit risk management, learning from LUNA,” he wrote on Twitter. But we won't support people who lobby against other industry players behind their backs. We gave support before, but we won't pretend to make love after divorce. Liquidating our FTT is just post-exit risk management, learning from LUNA.
“The brunt of what we do goes on behind the scenes, hidden from the spotlight, and rarely recognized by the media or wider public,” he wrote. In the post, Gambaryan touts the company’s handling of more than 47,000 law enforcement requests in 2022. The people who wanted to wait have so far gotten their way.īinance very publicly called out Reuters on Twitter, saying its December report was “attacking our incredible law enforcement team” and linking to a blog post from its own Tigran Gambaryan, the company’s head of intelligence and investigations. Four unnamed sources familiar with the matter told the news agency in December that at least some of the prosecutors involved in the investigation think the government needs to keep building its case before charges are filed. Department of Justice have been at odds on whether the evidence already gathered is sufficient to file charges against Binance executives, according to Reuters, including CEO Changpeng Zhao. The Department of Justice did not immediately respond to a request for comment from Decrypt. “This nascent industry has grown quickly and Binance has shown its commitment to security and compliance through large investments in our team as well as the tools and technology we use to detect and deter illicit activity."
“As has been reported widely, regulators are doing a sweeping review of the entire crypto industry against many of the same issues,” a Binance spokesperson tells Decrypt. In fact, the Binance investigation itself predates the creation of the justice department’s crypto enforcement team, which was formed in 2021 and got a new director, Eun Young Choi, last February. Attorney's Office in Seattle, and the National Cryptocurrency Enforcement Team, according to a December report by Reuters. The investigation involves the justice department’s money laundering team, the U.S.
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