Earlier this month, US senators Elizabeth Warren, Chris Van Hollen, and Roger Marshall sent a letter to Binance CEO Cz, accusing Binance of being a “home of illegal financial activities.”
Binance He announced that he had replied to the senators on March 16 and published the letter in question.
In the letter, it is seen that Binance’s history and efforts to comply with the law are explained in detail.
“Binance supports the United States’ effort to look at regulations in a holistic way.
As a global company, Binance has prioritized compliance with local regulations while growing by gaining regulatory approvals in many countries and regions around the world.
Consistent with this commitment to regulatory compliance, Binance has decided to launch a separate US entity, Binance.US, in 2019 to create a compliant platform for US users. Binance.US has grown into one of the largest US-based digital assets trading platforms licensed and operating in almost all US states and many territories.
Binance takes compliance very seriously and regularly engages with US law enforcement. Today, Binance’s team of hundreds of compliance and security experts work closely with government law enforcement and regulators around the world.
Binance takes enforcement compliance seriously and has voluntarily taken measures to avoid being involved in transactions that would be prohibited by the trade restrictions and economic sanctions laws of many countries and organizations, including the United States, that apply to Binance.
Today, in addition to IP blocking, Binance uses advanced third-party tools to voluntarily enforce controls and restrictions related to US sanctions laws, including the enforcement of real-time sanctions.”