According to a bombshell Forbes report dated Oct. 29, there is some “speculation” that Binance, the largest cryptocurrency exchange in the world by trading volume, is currently being investigated by the Federal Bureau of Investigation (FBI) and the Internal Revenue Service (IRS):
“Forbes has learned that the Tai Chi document is currently circulating among law firms, accounting firms, and others associated with Binance, and there is speculation that the FBI and the IRS may be investigating. When reached by telephone, an FBI agent in the Washington, D.C .field office initially denied knowledge of BINANCE and hung up. Later, the agent formally issued a “no comment."
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Forbes has managed to obtain a 2018 document that details the creation of “bait and switch” U.S.-based entity called “Tai Chi” that was meant to fool American regulators.
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Ex-Binance employee and Koi Trading CEO Harry Zhou —who’s known for working with Chinese crypto exchanges in America —was reportedly the mastermind behind the plan.
The damning leak states that Binance didn’t expect to obtain approvals from U.S. regulatory agencies, including the Securities and Exchange Commission (SEC), but was willing to work with them to avoid enforcement actions.
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It is worth noting that Binance also actively encouraged using a VPN for circumventing geographical restrictions.
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In his Twitter statement, CZ slammed the Forbes report as "FUD" while claiming that Binance doesn't acknowledge the document in question
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??Let's spread the good word about Crypto??
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Source: U.Today
??Cointelegraph
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