A branch of the Department of Justice investigating money laundering requested that BINANCE turn over emails & text messages from thirteen Binance executives and employees, which include Zhao. The DOJ sought information about Binance's ability to discover illicit activities. Additionally, the DOJ requested messages from the thirteen Binance executives instructing recipients to smash or alter files or switch them out of the United States.
According to people familiar with the matter, the Department of Justice is going to investigate to determine if Binance violated the Bank Secrecy Act (BSA).
Customers from all over the world are reaching out to every major crypto exchange to better understand our business. This is a general approach for any regulated agency, and we operate with organizations on a regular basis to answer any questions they may have. [Binance] has an enterprise-wide international protection and compliance team of over 700 employees, including former regulatory agencies and law enforcement officers. "
Binance has a shady corporate structure. It has declined to provide information about the ownership or location of its primary Binance.Com alternate, which has no longer had regular clients in the United States since mid-2018. According to regulatory filings, clients in the United States are instead directed to a separate U.S.-based exchange known as Binance.US, which is also managed by Zhao. Binance.US registered with the Treasury in 2018, but the main change did not. "Now we understand why Binance does not allow Americans to trade." Should we continue to purchase cryptocurrency from them?
