Binance Will Comply With Regulators Following US Anti-Money Laundering Investigation Report

In an interview with Binance, when asked about the US anti-money laundering investigation, the exchange said it will comply with any request from legal authorities to resolve any questions.

As updated in an earlier Coincu News article, Federal prosecutors in the United States have requested that Binance, the world’s largest cryptocurrency exchange, give comprehensive internal information about its anti-money laundering checks and communications with its CEO and founder, Changpeng Zhao.

According to Reuters, the Justice Department demanded that CZ and 12 other exchanges and partners turn over messages detailing how the exchange handles illicit transactions and recruits US consumers in December 2020.

“As has been well documented, regulators across the globe are reaching out to every major crypto exchange to better understand our industry. We work with agencies regularly to address any outstanding questions,”

A Binance spokesperson told Forkast in an email in response to the Reuters report

On September 1, CZ tweeted that it is “important for the industry to build trust with regulators” and that his chat messages “are semi-public anyway”.

Zhao stated at the beginning of August that the exchange had invested more than $1 billion in compliance initiatives, and that its market share had continued to rise.

The U.S. Securities and Exchange Commission was allegedly investigating in June whether Binance broke any regulations governing the sale of securities in 2017 when its BNB cryptocurrency was offered in an ICO.

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