NewsletterBreaking: Prosecutors Split Over Charging Binance, CZ; Report
U.S. Department of Justice prosecutors are divided on whether they should move ahead with filing criminal charges against Binance and its top executives, including CEO Changpeng Zhao, Reuters reported.
According to sources quoted by Reuters, U.S. Department of Justice prosecutors are divided on whether to file criminal charges against Binance and Changpeng Zhao for violating anti-money laundering sanctions. The world’s largest crypto exchange came under investigation in 2018 over its compliance with U.S. anti-money laundering laws and sanctions.
Sufficient evidence against Binance and CZ
According to the report, some federal prosecutors involved in the case believe they have sufficient evidence to move ahead and file criminal charges against individual executives including founder Changpeng Zhao. However, some prosecutors are delaying and taking more time to review the case. Prosecutors of three different justice departments are involved in the inquiry: the Money Laundering and Asset Recovery Section, known as MLARS, the U.S. Attorney’s Office for the Western District of Washington in Seattle and the National Cryptocurrency Enforcement Team.
Binance Denies Reuters Reports
Replying swiftly to the Reuters report, Binance denied such reports claiming that they don’t have insights into the workings of the Department of Justice and nor they can confirm if they did. Binance tweeted from its official Twitter account, “Reuters has it wrong again.” The crypto exchange praised the law enforcement team in its response to Reuters saying, “Reuters is attacking our incredible law enforcement team. A team that we’re incredibly proud of – they’ve made crypto more secure for all of us.” Reuters has repeatedly claimed in its reports how Binance kept weak money laundering checks. Though, Binance CEO has denied any such claims made against it.
Reuters has it wrong again.
Now they're attacking our incredible law enforcement team. A team that we're incredibly proud of – they've made crypto more secure for all of us.
Here’s the full statement we sent the reporter and a blog about our remarkable law enforcement team.
— Binance (@binance) December 12, 2022
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Bitcoin Gains State Adoption as Texas Becomes First U.S. State to Purchase BTC
- Rate Cut Advocate Kevin Hassett Emerges as Trump’s Top Pick For Fed Chair
- Breaking: Crypto Platform Polymarket To Operate As A U.S. Exchange as CFTC Issues Key Order
- SEC Panel to Discuss Regulatory Changes for Tokenized Equities on Dec. 4
- December Fed Rate Cut Odds Surge To 85% Following PPI Release
- Monad Price Prediction Amid Mainnet Debut — Is a Bigger Breakout Ahead?
- Chainlink Price Could Soar to $15 as ETF Listing Nears
- Will Cardano Price Rebound as Hoskinson Hints at a TVL Surge After Midnight Launch?
- Ethereum Price Holds $2,900 Amid Massive ETF Inflows and BlackRock Purchase
- Sui Price Surges 12%: Could This Mark the Start of a Bullish Trend?
- Is Bitcoin Price Set for Major Recovery as December Rate Cut Chances Hit 80.9%?
