Leading crypto exchange Binance is preparing to face penalties to resolve investigations in the U.S. Sources believe that resolving issues with U.S. regulators would be beneficial to the future of the exchange. Leading crypto exchange Binance is preparing to face penalties in order to resolve outstanding regulatory and law enforcement investigations in the United States. […]
Leading crypto exchange Binance is preparing to face penalties to resolve investigations in the U.S.
Sources believe that resolving issues with U.S. regulators would be beneficial to the future of the exchange.is preparing to face penalties in order to resolve outstanding regulatory and law enforcement investigations in the United States.that Binance has been working with regulators to resolve previous compliance issues, citing the firm’s chief strategy officer, Patrick Hillmann. He also stated that, most likely, the outcome of ongoing investigations will be penalties.
Hillmann added that Binance felt confident about the direction of the discussions. Even then, he couldn’t provide a figure for the fines or a timeframe for resolution. He affirmed that the lack of clarity for crypto in the US made it a confusing time for the exchange.In 2018, the Department of Justice In March 2021, the Commodity Futures Trading Commission also
whether the company offered crypto derivatives to US customers without first registering with the body.an investigation into Binance’s US division in February last year, focusing on trading firms linked to CEO Changpeng Zhao.Recently, the SEC escalated what industry refers to as a “war on crypto.” It appears to target certain staking services and stablecoins that the regulatory body has deemed to violate securities laws.
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