Binance, the world’s largest cryptocurrency exchange, has responded to accusations of “crime nest” by three US anti-cryptocurrency senators following the lawsuit filed by the CFTC.
Binance TSI, after being sued by the US Commodity Futures Trading Commission (CFTC) yesterday evening, from its official blog page, Senator Elizabeth Warrensenator Chris Van Hollen and Senator Roger MarshallHe gave a detailed and comprehensive answer to the letter in which he had serious accusations.
The response to the letter was “Binance Background, Compliance and Security Commitment” as 3 items Binance has also detailed some of its statements with a sub-title.
As a global company, the stock market many countries and regions stating that it continues its transactions by getting approval “reports that are out of date and based on incomplete information” reported that they launched Binance.US, which is exclusive to US users, in 2019, not as it claims. On the other hand, Binance.US is licensed in the country. in almost all US states It is said to be an operating stock market.
Background
In the article, how and in what year Binance was founded, the opening of the stock market to the US market was detailed. Binance, from Harry Zhou, who worked at an international law firm during its plans to enter the US market stating that he rejected the offer launch a platform where the right thing is to offer US registered, country compliant products and US users from the stock market He decided to take it out. A few months after this decision, Binance.US was announced. In the article, both Binance as well as Binance.US Although it belongs to Changpeng Zhao that the two companies are actually different from each other highlighted.
The report also states that Binance as they grow and develop It was stated that legal compliance was given even more importance. worldwide from 8,000 Binance, which has more full-time staff, Paris And DubaiIt has two major regional centers in .
Compliance Commitment
Binance for all users outside the US in 2021 know your customer (KYC) It was the first major exchange to mandate the procedure. Stating that it uses transaction monitoring purposes in order to detect and stop high-risk or suspicious transactions, 750 persons He stated that he has a team of compliance personnel.
In this team 80 personnel Certified Anti-Money Laundering (AML) specialist while it was stated that approximately 260 personnel whereas professional compliance specialist was stated.
Binance Chief Compliance Officer Noah Perlman US stock exchange Gemini including over 20 years He has been working with major financial institutions for some time, and that Steve Christie, Assistant Chief Compliance Officer, US exchange Kraken including For long years He emphasized that he works in this field.
Binance also said that it is always collaborating with local lawmakers. Collaborating with law enforcement 100 staff members The stock market, which stated that there was a from 55,000 Average number of requests for help within 3 days He said he replied.
Commitment to Security and Transparency
Customer assets in each statement one-to-one ratio Binance stated that they carefully protect these assets. assets whenever users want 100% of with all his transparency when he said he could pulla proof of reserve, burning of native token BNB And B-token data He stressed that he shared
For isolated and cross margin borrowings margin insurance fund Expressing that they have wealth fund reiterated that.
Finally, he said that underreporting may contain misconceptions about Binance, and development and stability of the industry. And to your safety expressed their dedication.