US Prosecutors Investigating Hedge Funds’ Connection to Binance for Money Laundering
US Prosecutors Examining Hedge Funds’ Links to Binance in Ongoing Money Laundering Investigation of Cryptocurrency Exchange
Anonymous Sources Report US Prosecutors Subpoena Investment Firms for Records of Communications with Binance. Although Subpoenas Do Not Mean Charges Will Be Brought Against, Authorities Continue to Evaluate Evidence and Consider Possible Settlement with Binance. Binance Has Not Responded to Cointelegraph’s Request for Comment.
Binance Under Investigation in US Since 2018 for Allegedly Allowing Illicit Funds to Move Through Exchange, Including Unlicensed Money Transmission and Money Laundering Conspiracy
Bank Secrecy Act Requires Crypto Exchanges Conducting Substantial Business in US to Register with Treasury Department and Comply with Anti-Money Laundering Regulations. Binance Chief Strategy Officer Admits Company Had Poor Approach to Regulatory Compliance in Early Years, but Has Made Significant Investments in Compliance Programs. Binance Joins Association of Certified Sanctions Specialists and American Crypto Lobbying Group the Chamber of Digital Commerce to Stay in Compliance with Global Sanctions and Address Criticism of Being Unregulated.
Johnson Philip is a passionate cryptocurrency enthusiast and writer for CoinSEM.com. He has been following the crypto industry for years, and has a deep understanding of the various technologies and trends driving the market. Johnson has written extensively on topics ranging from blockchain development to ICO analysis and is known for his ability to translate complex technical concepts into easy-to-understand language.