Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: Coinpedia Fintech News on May 06, 2023, 12:44:57 PM
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The world's largest cryptocurrency exchange, Binance, is facing yet another investigation, this time from the United States Department of Justice. The allegations involve the exchange allowing Russian customers to access its platform in violation of US sanctions related to Russia's invasion of Ukraine.
This latest probe comes on the heels of a joint investigation with the Internal Revenue Service in 2021 and ongoing investigations by the Securities and Exchange Commission. However, Binance asserts that it complies fully with all US and international financial sanctions and has even built a 700-member compliance team to handle over 1,300 law enforcement requests each week.
Despite accusations made against it in the past, Binance has pushed back and disputed these claims. But with the investigation by the US Department of Justice ongoing, the cryptocurrency industry is on edge, as Binance accounts for over half of all spot trading in March 2023.