The exchange processed trades worth around $1.6 trillion in October, about half of the entire crypto market's trading volume. Launched by Zhao in Shanghai in 2017, Binance now dominates the crypto industry.
sanctions, and plotted to evade regulators in the United States and elsewhere.īinance has disputed the articles, calling the illicit-fund calculations inaccurate and the descriptions of its compliance controls "outdated." The exchange has said it is "driving higher industry standards" and seeking to "further improve our ability to detect illegal crypto activity on our platform." The reporting showed that Binance kept weak anti-money laundering controls, processed over $10 billion in payments for criminals and companies seeking to evade U.S. Reuters has investigated Binance's financial crime compliance over the course of 2022. He enforced strict secrecy rules on employees, telling them to use email as little as possible and to communicate using encrypted messaging services, according to company messages that Reuters has previously reported. government agency that was investigating Binance. He instigated a recruitment spree last year that led to the hiring of officials from the Internal Revenue Service's Criminal Investigation division, the U.S. The new reporting shows that the case has shadowed Binance for most of its five years in existence, shaping Zhao's management of the company while he drove its explosive growth around the world. Reuters reported previously that in 2020, prosecutors requested extensive internal records from Binance about its anti-money laundering checks, along with communications involving Zhao and other executives.
Ultimately, the Justice Department could bring indictments against Binance and its executives, negotiate a settlement, or close the case without taking any action at all. No final charging decisions have been made, though prosecutors consider Zhao and some other executives to be subjects of the investigation, one source familiar with the situation said. The charges under investigation are unlicensed money transmission, money laundering conspiracy and criminal sanctions violations, the four people said. Others have argued taking time to review more evidence, the sources said.Ī Binance spokesperson said, "We don't have any insight into the inner workings of the US Justice Department, nor would it be appropriate for us to comment if we did." The Justice Department declined to comment. Some of the at least half dozen federal prosecutors involved in the case believe the evidence already gathered justifies moving aggressively against the exchange and filing criminal charges against individual executives including founder Changpeng Zhao, said two of the sources.
anti-money laundering laws and sanctions, these people said. The investigation began in 2018 and is focused on Binance's compliance with U.S. Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world's largest cryptocurrency exchange Binance, four people familiar with the matter have told Reuters. WASHINGTON, Dec 12 (Reuters) - Splits between U.S.
0 kommentar(er)
