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
- Bitcoin to Drop to $10K? Bloomberg Analyst Makes Bold Prediction
- U.S. Banks May Soon Issue Stablecoins as FDIC Proposes GENIUS Act Framework
- Breaking: U.S. SEC Ends Four-Year Investigation Into Aave Amid Ongoing DAO Saga
- Breaking: U.S. Jobs Data Comes In Above Expectations, Bitcoin Price Rises
- Bitcoin Risks Deeper Fall on $20 Billion Crypto Hedge Fund Redemptions
- Solana Price Outlook After Charles Schwab Adds SOL Futures — What Next?
- Pi Network Stares at a 20% Crash as Whale Buying Pauses and Demand Dries
- Here’s How Dogecoin Price Could Rise After Crossing $0.20
- Is XRP Price Headed for $1.5 as Whales Dump 1.18B XRP in Just Four Weeks?
- Bitcoin Price Weekly Forecast as Gold’s Surge Revives Inverse Correlation — Is $85K Next?
- Ethereum Price Risks $2,600 Drop Despite JPMorgan’s New Fund on its Network
