Binance US Investigation Deepens: Here are the Latest Developments

Binance, one of the world’s largest cryptocurrency exchanges, is facing increasing pressure in the United States. On September 26, WSJ shared information about the details of the American investigation into Binance. This investigation could lead to potentially serious legal consequences against Binance and the company’s CEO, CZ.

Pressure increases on Binance

WSJ’s report states that, based on information received from an anonymous source, the US Department of Justice conducted an in-depth investigation into Binance that lasted a year. The results of this investigation point to serious criminal sanctions against Binance and its CEO CZ. It could also expose the exchange to billions of dollars in fines.

In addition, Binance is also being sued by the SEC. The SEC accuses Binance and CZ of operating illegally in America and misusing customer funds. While the company acknowledges its past mistakes, it states that customer funds are safe and that it remains committed to complying with the law.

A word from Binance to its investors

Meanwhile, an official speaking on behalf of Binance stated that the company is constantly working on creating the necessary teams and systems to protect users, as well as learning from past mistakes.

Additionally, the operations of Binance’s US subsidiary, BinanceUS, have largely ceased. The company’s US CEO, legal counsel and risk manager recently resigned from their positions. An anonymous source states that Binance has held a series of meetings with the Ministry of Justice in recent months, and that the issue of whether CEO CZ should step down from his leadership position is discussed within the company. In light of these developments, uncertainties regarding the future of Binance are increasing. Curiosity continues about what path the company will follow and how its relations with the US government will be shaped.

Leading stock exchange restarted transactions in Belgium despite the ban

Binance announced that it has resumed operations in Belgium, despite the suspension of service order by the Belgian regulator FSMA. The exchange announced that it plans to offer services to Belgian users using its branch in Poland. We have included the details of the hot development in this article.

In the decision made by FSMA in June, it was stated that Binance was providing services illegally. Additionally, Bora was requested to stop providing services to Belgian users. However, Binance decided to serve its Belgian users through Poland.

In Binance’s official statement, “Our Belgian users have accepted our new Terms and Conditions. “Thus, they can regain access to various Binance products and services.” However, the stock exchange did not share clear information about what measures were taken for the continuity of the service. It was stated that new terms and conditions of use are offered to Belgian users who will open a new account.

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