US regulators Binance As the pressure on Binance continued to increase, a group of two Democrats and a Republican senator asked Binance for more information and made some accusations.
A group of three US senators wrote to Binance requesting detailed information on money laundering controls, The Wall Street Journal reported. In the letter, cryptocurrency exchange Binance was accused of being a “home of illegal financial activities”.
Senators wrote the letter directly to Binance CEO Changpeng Zhao. In the letter dated March 1, some information was requested from Cz. These included details of the company’s balance sheets, procedures on the stock exchange, and all of Cz’s internal communications detailing its efforts to improve compliance with the laws it claims.
The letter, signed by Senator Elizabeth Warren, Chris Van Hollen, and Roger Marshall, also contained serious accusations against Binance. Senators accused Binance and its affiliates deliberately evading regulators, allowing criminals to transfer their assets, and recording their clients’ basic financial information.
While Binance has not yet made a statement on the subject, WSJ claimed in a special report in February that Binance was preparing for fines from US regulators.
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