Hedge Funds Subpoenaed in Binance Investigation: US Prosecutors Take Action

Written by Johnson Philip

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.

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