DOJ and IRS Reach out to Crypto Exchange Binance
Posted on 05/13/2021
Crypto exchange Binance Holdings Ltd. is said to face investigations from the U.S. Department of Justice and the Internal Revenue Service (IRS). The U.S. government agencies are seeking information from Binance on various participants on the platform. Binance was founded in 2017 and is led by Changpeng Zhao. Binance is collaborating with law enforcement agencies.
Binance competes against other crypto exchanges like Coinbase. Binance is the world’s biggest cryptocurrency exchange in U.S. Binance is incorporated in the Cayman Islands and has an office in Singapore but says it lacks a single corporate headquarters.
Binance released a series of tweets when the news came out.
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We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion. (1/3)
We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity. (2/3)
We have a strong track record of assisting law enforcement agencies around the world, including in the United States. (3/3)
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