Reuters reports that U.S. prosecutors are considering charging Binance and its management with possible money laundering and sanctions violations. However, Binance itself denies the Reuters information, saying that this is another FUD.
According to Reuters sources, a disagreement between U.S. Justice Department prosecutors is delaying a criminal investigation into the largest exchange, Binance, and its CEO Zhao (the investigation began back in 2018 and is focused on Binance’s compliance with U.S. anti-money laundering laws and sanctions).
Attorneys for Binance held meetings with Justice Department officials. Among the platform’s arguments is that a criminal prosecution would hurt the cryptocurrency market (especially given Binance’s strengthening position in the wake of the FTX crash). According to sources, prosecutors in Seattle have enough evidence to prepare charges not only against Binance, but also against Zhao personally.
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So far, the decision is in the process of agreeing on a common position within U.S. government agencies. Binance has been denying the Reuters report, claiming it’s another FUD, though one should be at least cautious with such statements, as FTX also denied the possibility of its bankruptcy until the last moment.
The world’s largest cryptocurrency exchange announced that it has temporarily blocked some of the accounts that managed to earn on the recent abnormal volatility of several cryptocurrencies. Binance explained its actions by “abnormal price movements in certain trading pairs.”
The exchange team decided to hedge against the backdrop of an incident that happened the previous day, December 10, when Cosmo (OSMO) prices on Binance instantly increased by 460% and then fell to almost previous levels. Binance CEO Changpeng Zhao assured that the exchange is investigating the abnormal volatility of prices related to the “behavior of the market.”
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