Reuters: US Prosecutors Look to Charge Binance Executives on Possible Money Laundering Violations
Reuters: US Prosecutors Look to Charge Binance Executives on Possible Money Laundering Violations

Reuters: US Prosecutors Look to Charge Binance Executives on Possible Money Laundering Violations

13 december, 20221 minute to read
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Binance denied the claim of the media.

The US Department of Justice is exploring the possibility of bringing criminal charges against the Binance cryptocurrency exchange. Reuters writes about this, citing two sources. According to them, the co-founder and CEO of the cryptocurrency exchange Changpeng Zhao got on the list of potential defendants.

The publication alleges that the US Attorney's Office in Seattle opened an investigation against Binance in 2018 after a series of cases where the platform was allegedly used by criminals to transfer illegal funds. Reuters also wrote that the case has caused a split in the Justice Department. Some disagreed with the indictment and demanded that more evidence be collected in order to initiate a case.

Binance denied the claims of Reuters. The company stated that Binance has "responded to over 47,000 law enforcement requests" since November 2021.

Following the collapse of the FTX exchange, major players in the cryptocurrency industry have come under close scrutiny. Following FTX's bankruptcy announcement, Binance and other crypto exchanges released documents about their financial situation. Amid the complexities in the industry, Binance announced a $1 billion commitment to support the industry.

13 december, 2022
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