Sunday, February 5, 2023
 

Money Laundering Violations: US Attorneys Investigate Binance

  • The federal prosecutors are investigating Binance’s connection with the American hedge funds.
  • The investigation is a part of the long-running investigation into the violations of money laundering laws at the leading crypto platforms.
  • The current investigation doesn’t intend to charge Binance with any allegations.

According to the reports of The Washington Post, federal prosecutors have been investigating the leading crypto exchange Binance’s connections with the American hedge funds.

Notably, the probe into the dealings of Binance is a part of the ongoing investigation into the possible violations of money laundering laws at the leading crypto firms.

The report suggests that the US Attorney’s Office for the Western District of Washington in Seattle ordered the investments to submit the documents that are crucial in Binance’s association with the firms.

It is noteworthy that the details of the subpoenas have been given by two anonymous people, unwilling to reveal their identities. Both of them have reviewed the subpoena and explained the confidentiality of the procedures.

Significantly, Binance received the subpoenas when the company had been under scrutiny from media and authorities regarding its financial dealings. However, the investigation by US attorneys doesn’t necessarily mean that the company is charged with some allegations.

Patrick Hillman, Binance’s Chief Strategy Officer told in an interview that the company has been transparent with its dealings and had regular communications with “every regulator across the globe on a daily basis”. However, he was reluctant to speak any word about the ongoing investigations; Joshua Stueve, the Justice Department spokesperson didn’t comment either.

Interestingly, Binance has been under investigation in the United States since 2018; it began with the investigators probing into the illicit funds moving across the exchange. In addition, the exchange has been alleged of unlicensed money transactions, money laundering conspiracy, and criminal sanction violations since 2018.

  • The federal prosecutors are investigating Binance’s connection with the American hedge funds.
  • The investigation is a part of the long-running investigation into the violations of money laundering laws at the leading crypto platforms.
  • The current investigation doesn’t intend to charge Binance with any allegations.

According to the reports of The Washington Post, federal prosecutors have been investigating the leading crypto exchange Binance’s connections with the American hedge funds.

Notably, the probe into the dealings of Binance is a part of the ongoing investigation into the possible violations of money laundering laws at the leading crypto firms.

The report suggests that the US Attorney’s Office for the Western District of Washington in Seattle ordered the investments to submit the documents that are crucial in Binance’s association with the firms.

It is noteworthy that the details of the subpoenas have been given by two anonymous people, unwilling to reveal their identities. Both of them have reviewed the subpoena and explained the confidentiality of the procedures.

Significantly, Binance received the subpoenas when the company had been under scrutiny from media and authorities regarding its financial dealings. However, the investigation by US attorneys doesn’t necessarily mean that the company is charged with some allegations.

Patrick Hillman, Binance’s Chief Strategy Officer told in an interview that the company has been transparent with its dealings and had regular communications with “every regulator across the globe on a daily basis”. However, he was reluctant to speak any word about the ongoing investigations; Joshua Stueve, the Justice Department spokesperson didn’t comment either.

Interestingly, Binance has been under investigation in the United States since 2018; it began with the investigators probing into the illicit funds moving across the exchange. In addition, the exchange has been alleged of unlicensed money transactions, money laundering conspiracy, and criminal sanction violations since 2018.

 

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