Binance Concealed Presence In China For Years: Report

Binance faces charges for concealing its presence in China

As per the Financial Times reprot, Binance had an office in China until late 2019 and used a Chinese bank to pay certain employees.

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Binance's CEO, Changpeng Zhao, reportedly instructed employees to hide the exchange's Chinese presence

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A company message from Zhao to employees stated that the exchange no longer publishes its office addresses and that its office is not in China

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Zhao reportedly told most of its employees that Binance left China after the country began scrutinizing cryptocurrencies in 2017.

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The latest report adds to the already-piled-up allegations against Binance.

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The CFTC has charged Binance and its CEO with several charges, including offering illegal cryptocurrency derivatives to US customers.

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Binance has denied the allegations and has said that it is fully committed to complying with all regulations and laws

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