“I know this is the truth for Binance, at least.” “Crypto is NOT a safe haven for illicit activities,” Gambaryan wrote in his blog. Today, as Reuters published its report, Binance published a blog from Tigran Gambaryan-a former IRS cybercrimes special agent who’s now the company’s global head of intelligence and investigations-seemingly getting ahead of the Reuters report by discussing how Binance fights against crypto crime. AdvertisementĪmid the crypto crash, Binance continues to be influential as the most dominant crypto exchange platform, positioning itself as the hero crypto needs to reverse the current market downturn. During those meetings, Binance lawyers reportedly also expressed concerns that the DOJ filing charges now could further disrupt the already crashing cryptocurrency market. In the past few months, sources said that Binance lawyers have even met with DOJ to discuss potential plea deals. While no charges have been filed, Binance has seemingly devoted resources to persuading DOJ against taking any actions. These sources told Reuters that prosecutors spread across three DOJ offices-the Money Laundering and Asset Recovery Section (MLARS), the US Attorney's Office for the Western District of Washington in Seattle, and the National Cryptocurrency Enforcement Team (NCET)-would have to agree “on any action against Binance.” But for now, they can't agree. It seems that while NCET and the Seattle office are eager to prepare charges, MLARS leadership is causing further delay because they want more time to weigh all the evidence gathered against the world’s largest cryptocurrency exchange.Īccording to Reuters, evidence shows that Binance allegedly spent the past year processing “over $10 billion in payments for criminals and companies seeking to evade US sanctions,” while keeping “weak anti-money laundering controls” and plotting to evade regulators both in the US and globally. Sources included former Binance advisers, as well as current and former US law enforcement officials. Reuters reviewed Binance records and spoke to nearly a dozen sources to compile a “comprehensive” progress report detailing DOJ’s inquiry so far. Now, Reuters reports that some federal prosecutors feel they’ve amassed enough evidence to file criminal charges against Binance-including individual charges against Binance founder Changpeng Zhao-but other DOJ officials are standing in the way. Suspected of alleged money laundering, tax evasion, and US sanctions violations, Binance has been under investigation by the US Department of Justice since 2018 but has never been formally accused of any wrongdoing. NurPhoto / Contributor | NurPhoto reader comments 78 with
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