Report: DOJ Mulls Criminal Charges against Binance

According to reports, the United States Department of Justice is in conflict over whether to file criminal charges against Binance immediately or after further investigation.
According to a Reuters report, key takeaways include the possibility that Binance could be charged with unlicensed money transmission, money laundering conspiracy and criminal sanctions violations.
According to reports, the officers in charge of the investigation are divided on whether to file charges based on evidence already gathered or continue investigating.
Changpeng Zhao replied to the report by tweeting that Sam Bankman-Fried was paying Reuters to spread fear, doubt and uncertainty about Binance.
Share this article. Binance and its executives could face charges including unlicensed cash transmission, money laundering conspiracy and criminal sanctions violations–if prosecutors agree to file them. Binance has been under investigation since 2018 by the U.S. Department of Justice. According to the article, Binance and its executives–including CEO Changpeng “CZ” Zhao–could eventually be charged with unlicensed money transmission, money laundering conspiracy, and criminal sanctions violations.However, the various offices involved in the investigation are reportedly currently disagreeing on whether to keep gathering evidence or file criminal charges with the material they already possess. Before any action can be taken, top officials from the U.S. Attorney’s Office in the Western District of Washington, the Money Laundering and Asset Recovery Section and the National Cryptocurrency Enforcement Team will need to come to an agreement. Binance’s official account responded to the tweet with “Reuters has it wrong again.” A company statement claimed that the exchange “works hand in glove with law enforcement to support casework on high-impact ransomware and hack cases, scam and investment frauds, counter-terrorism finance, nation-state-sponsored attacks, and major money-laundering groups.” The exchange did not comment on the specific charges mentioned in the article.Zhao, for his part, responded with a tweet implying that Reuters was being paid by former FTX CEO Sam Bankman-Fried to spread fear, doubt, and uncertainty about Binance. Zhao has been critical of Reuters’ reporting on Binance in the past, stating that some of their previous articles were “inaccurate” and written by “irresponsible journalists.”Disclaimer: At the time of writing, the author of this piece owned BTC, ETH, and several other crypto assets.Share this articleThe information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. does not provide investment advice. We do not provide personalized investment advice or any other financial advice. This website’s information is subject to change at any time. The information on this website could become obsolete or incorrect. You may not be able to update any information that is outdated, incomplete or inaccurate. We also reserve the right to change any information that is incorrect, incomplete or outdated. If you need investment advice about an ICO, IEO or other investment, we strongly recommend that you consult a licensed financial advisor or other qualified financial professional. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.See full terms and conditions.Recommended News