Binance in troubled waters – Binance may do everything possible to show its credentials, but it never seems to be enough. And Reuters is not likely to help the crypto-exchange, since the media has just released a resolutely incriminating investigation against the supposed litigious activities of the platform of Changpeng “CZ” Zhao.
Binance would allow money laundering?
Since the beginning of summer 2021, the cryptocurrency exchange platform Binance suffered like never before onslaught of regulatory bodies. Initiated by the British FCA in June 2021, this cascade of attacks has still not dried up, despite multiple efforts crypto exchange for comply to various regulations.
And the media Reuters seems to enjoy shooting the ambulance, since he just added a hell of a layer ofaccusations of embezzlement to the platform. In a publication published on January 21, journalists charge Binance, accusing it in particular of making retention of information requested by regulators, or to make very accommodating controls on the identities and movements of funds of its customers:
” In public, [Changpeng] Zhao has repeatedly said he welcomes regulatory oversight, and Binance has touted its anti-money laundering program. But at the same time, Binance was concealing information about its finances and corporate structure from regulators (…) Binance also maintained insufficient controls over its customers (…) and acted against the recommendations of its own compliance. »
CZ denounces FUD campaign against Binance
Obviously, these accusations caused the first of those concerned to react, namely Changpeng “CZ” Zhao, the founder and CEO of the Binance platform. In a tweet on his official account, therichest man in crypto denounces a defamatory relentlessness against its marketplace:
“FUD. Journalists talk to people who have been fired by Binance, or partners who have been dismissed and who try to disparage us. We focus on anti-money laundering, transparent and welcome regulation. Actions speak louder than words. (…)”.
Even though Binance has been in the gray area long enough – or at least in mode ” far west “, shall we say – since its creation in 2017, its new desire for conformity seems to be very real. Signs like hiring ex-IRS fraud specialist (the American tax authorities) are in any case going in this direction.
The revolutionary and constantly innovative aspects of the cryptosphere have led to enthusiastic, but all-out development, in the absence of regulatory frameworks, attracting the inevitable malfeasance along the way. If the group behind Binance has developed in this image, it does not intend to be discouraged and adapts to the wishes of the States, as in its recent project of a crypto exchange platform in Thailand.
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