2023-05-09 04:00:00
Did Binance Bypass US Sanctions? – THE UNITED STATES sometimes change opponents, but extraterritoriality (unique in the world) of their laws and decisions still remains. A little less than a year ago Binance was accused of having Iranian customers (the demonstration of this incrimination has still not been produced). This time it’s for Russian customers that the US justice tries to harass the crypto-stock exchange of Changpeng « CZ » Zhao.
More new accusations against Binance
Rarely does a week go by without that an institution or a media of the United States accuses Binance of something. Even if these kinds of accusations never led to anything concretely, they tarnish the image of the crypto-stock exchange, and each time try to create a deadly panic (much like the one that marked the end of FTX).
This time it’s the US Department of Justice who would attack the cryptocurrency exchange platform. In any case, according to people familiar with the file ” (more anonymous) quoted par Bloomberg.
The Department of Justice (DoJ) would thus “opened an investigation” to determine if Binance Holdings Ltd (the parent company of the eponymous crypto-exchange) had allowed Russians to use their crypto accounts to “bypass US sanctions”. However, the publication states that “neither Binance nor its executives have been accused of wrongdoing”.
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The crypto-stock exchange had to set up a reinforced concrete “compliance” team
It front of recurring accusations regulators of the planet (at least, of those hostiles to Bitcoin and cryptocurrencies), the group of Changpeng Zhao was forced to form a real army lawyers and other regulatory compliance professionals. Faced with these latest accusations, a Binance spokesperson responded:
“In 2021, Binance launched an initiative to completely overhaul its corporate governance structure. Notably by bringing in a seasoned group of world-class executives to fundamentally change the way Binance operates globally. »
And as much to say that It is heavy legal side, given the great soft focus of most crypto-asset regulations (often in countries that are hostile to them, Besides). Just ten days ago, Tigran Image – Binance Financial Crimes Compliance Officer – clarified the extent of its teams (and their herculean tasksimilar to cleaning the stables of Augeas):
“(…) 700 members handling 1,300 law enforcement requests on a weekly basis. »
Fortunately, digitization now saves the printing of all this regulatory paperwork (1300 files per week, that would make devastated forests at the end of the year). We also understand better why Binance did not hesitate to hire Tigran Gambaryan in 2021. This former special agent of the’Internal Revenue Service (or IRSthe US tax authorities) is probably one of the best people in the world to know what US institutions could be trying to blame Binance for.
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