The world’s largest cryptocurrency exchange, Binance, came forward today with some striking news. According to Reuters sources, Binance has been on US soil since 2018.money laundering and criminal sanction violations‘ was investigated.

According to the news Reuters claims to have heard from nearly a dozen people, the investigation into Binance began in 2018 and is still ongoing. But more than a dozen prosecutors involved in the investigation are now beginning to evaluate the usefulness of the evidence against Binance executives and Binance. About the news Here is Binance’s statement.

Binance disputed the news:

Binance disagreed with the news shared by Reuters. The platform also misrepresents the following illegal fund calculations and compliance check explanations”deprecatedhe described. However, he stated that they maintain high industry standards and are working to improve their ability to detect illegal cryptocurrency activity on the platform.

A Binance spokesperson also told Reuters: “We have no knowledge whatsoever of the inner workings of the US Department of Justice, and it would be inappropriate to comment if we did.” he said.

In addition, the following statement was shared from the exchange’s official Twitter account:

“Reuters is wrong again. Now they are attacking our legal team. A team we are incredibly proud of – they have made crypto safer for all of us. Here is the full statement we sent the reporter and an article about our exceptional legal team:“

Binance explained its fight against crypto crimes in its article, which you can find here. Tigran Gambaryan, Binance Vice President of Global Intelligence and Research, emphasized that Reuters’ claims are “big” and responded to Reuters’ claims as follows:

“Crypto is NOT a safe haven for illegal activity. At least I know this is the truth for Binance.

In summary, our team in 2022:

• Responded to over 47,000 legal requests
• Security and compliance increased employee numbers by more than 500%
• Participated in over 70 cybercrime workshops with global law enforcement
• It became the first blockchain and crypto company to join the National Cyber ​​Forensics and Education Alliance (NCFTA).

So what is this research news?

• NOTE: The information below is taken from various sources that Reuters believes are related to Binance. The statements are not accurate.

The investigation was initiated in 2018 by the Seattle City Attorney’s Office. The reason for starting the investigation isA series of cases where criminals use Binance to move money illegally” used to be.

The prosecution then continued the investigation with the Department of Justice’s Money Laundering and Asset Recovery Division. The Investigation Department of the Tax and Customs Administration was also involved in the process.

Binance has increased its legal power in the US with the investigation:

According to the details, Binance decided to increase its legal power in the US in October 2018, at the meeting attended by the platform’s founder, Changpeng Zhao. Zhao said directly at the meeting: “Increase the number of lawyers in the US, address regulatory risks.” he said.

According to Reuters, this investigation had a direct impact on the way Zhao ran the company. Binance belongs to the Criminal Investigation Division of the Internal Revenue Service that investigated it. even hired officials.

In addition, the company messages that Reuters previously passed on are that employees use email as much as possible and encrypted messaging services predicted its direction. In other words, strict confidentiality rules began to be applied in the company.

Reuters: $10 billion in money transferred by criminals in 2022:

Reuters reported that Binance is investigating financial crime compliance in 2022. The resulting report is from Binance weak anti-money laundering controlsshowed it processed more than $10 billion in payments to criminals and companies trying to evade US sanctions and conspired to evade regulators in the US and other countries.

Useful Expectation Against Binance:

Some of the at least half a dozen federal prosecutors involved in the case have already found evidence against the stock market and executives, including Zhou, from the two names, according to Reuters. justify aggressive action (statement) believes.

This information, reported by Reuters, also raised concerns about Binance.