Binance Is Under Investigation by the US Officials

US legal authorities have begun to closely monitor Binance, the world’s biggest cryptocurrency exchange. Since 2018, it has been under investigation by the US officials and now investigations are being stepped up as prosecutors in America demand all crypto hedge funds with any contact history with Binance must divulge their communication records.

Binance Tries to Patch Holes Leading to Illegal Activities.

In the recent months, The Washington Post has reported that hedge fund companies based in the United States have been receiving subpoenas as part of a lengthy investigation into Binance for potential money laundering violations. Binance itself now acknowledges that their compliance with legal rules and regulations had shortcomings during its early stages. This is no longer the case. The crypto exchange now keeps in close contact with just about every regulatory body worldwide, as Chief Strategy Officer Patrick Hillmann recently shared with The Washington Post.

Binance Is Under Investigation by the US Officials

Charges Against Binance Can Change the Crypto World

The Washington Post reports that one of the most intricate struggles for investigators is to demonstrate that Binance falls under US law. For instance, its main shell company, Binance Holding Ltd., which operates several subsidiaries, lies in the Caymans.  At the present, no charges have been brought against Binance or any of their affiliated crypto hedge funds. The subpoenas issued do not guarantee indictments; however, some federal prosecutors involved in the investigation believe that there is already enough evidence to make a case for criminal charges against Changpeng Zhao and other executives at Binance. It’s possible that aggressive action may be taken soon as a result.

Ana Costa

I am resourceful and passionate about taking on whatever task lies ahead of me. I thrive in workplaces that promote diversity and inclusivity, whether it is working in journalism or being in the first place of global progressive social movements. I'm a journalist with a keen interest in reporting on daily global economic, finance, and crypto news. I have a deep understanding of how financial markets and global economies work, and I'm passionate about covering the latest developments in the world of cryptocurrency. I believe that the intersection of finance and technology is where the most exciting stories can be found, and I'm committed to staying up-to-date with the latest trends and emerging technologies in these areas. With years of experience in reporting and a strong network of sources, I strive to provide my readers with insightful and accurate coverage of the topics that matter most. Whether it's a breaking news story, an in-depth analysis of market trends, or an interview with a leading industry expert, I'm always ready to tackle the next big story and deliver it to my audience in a clear and engaging way. I focus on social media marketing, digital marketing, and market research. My strengths lie in creative marketing plans, collaboration with team members, and an eye for rising trends in different target markets.

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