US Department of Justice prosecutors differ on whether to charge Binance and its management for anti-money laundering violations.
The largest cryptocurrency exchange's compliance with American anti-money laundering legislation and sanctions was investigated in 2018.
disagree about whether to bring charges against Binance and its top executives for breaking anti-money laundering laws.
According to Reuters, there is disagreement among US Department of Justice prosecutors on whether or not to proceed with the filing of criminal charges against Binance and its top officials, including CEO Changpeng Zhao.
The U.S. Department of Justice prosecutors are split on whether to bring criminal charges against Binance and Changpeng Zhao for breaking anti-money laundering regulations, according to sources cited by Reuters. In 2018, a probe into the biggest cryptocurrency exchange in the world's adherence to American anti-money laundering laws and sanctions was launched.
According to the report, the federal prosecutors involved in the case believe they have enough evidence to move forward and file charges against particular people, including the founder Changpeng Zhao. However, prosecutors are dragging their feet and taking extra time to review the evidence. The investigation is being conducted by the National Cryptocurrency Enforcement Team, the Money Laundering and Asset Recovery Section (MLARS), and the U.S. Attorney's Office for the Western District of Washington in Seattle.
Binance quickly responded to the Reuters report and refuted the claims, saying they had no knowledge of the Department of Justice's operations and were unable to validate them. From its official Twitter account, Binance stated, "Reuters has it wrong again." In response to Reuters, the cryptocurrency exchange lauded the law enforcement staff, saying, "Reuters is criticising our outstanding law enforcement team. A team of which we are immensely proud has improved the security of crypto for everyone. In its stories, Reuters has stated numerous times how Binance maintained lax anti-money laundering measures. However, the CEO of Binance has refuted all of these accusations.
