2 years ago
Binance.US has responded to a missive published by U.S. senators connected March 2 by professing compliance and stating that it volition reply questions directly.
Binance acknowledges senators’ letter
On March 2, assorted senators alleged that Binance.US has engaged successful “potentially illegal” enactment and asked the steadfast to reply respective questions.
A Binance.US spokesperson said successful a connection to CryptoSlate:
We invited engagement with policymakers and look guardant to responding to the [senators’] requests.
That spokesperson added that Binance.US is “confident successful the spot of [its] operations” including its anti-money laundering (AML) procedures and different compliance programs.
Binance.US besides described 2 policies that it stands by: it said that it maintains 1:1 reserves (described elsewhere arsenic meaning that the institution has capable crypto to screen each idiosyncratic balances) and says that it does not lend oregon commercialized lawsuit funds.
Senators inquire for trove of data
The lawmakers liable for the archetypal missive are Senators Elizabeth Warren (D-Mass.), Chris Van Hollen (D-Md.), and Roger Marshall (R-Kan.).
Their missive alleges that Binance.US has attempted to evade U.S. regulators, has facilitated wealth laundering and sanctions avoidance, and has lacked transparency.
The senators specifically asked Binance.US and Binance subsidiaries to supply equilibrium sheets, U.S. users data, and know-your-customer (KYC) and AML information.
The missive besides asks astir the narration betwixt Binance.US and Binance and inquires astir anti-KYC statements from Binance CEO Changpeng Zhao. It additionally requests accusation astir Binance’s expected ‘Tai Chi’ strategy document, which is said to advocator for creating an entity to explicit mendacious involvement successful overseas regulations.
The senators’ missive did not specifically code a caller contention astir Binance.US’s alleged transfers to Merit Peak trading firm. However, the missive does inquire Binance.US for a database of U.S.-based platforms that person utilized its services — a question that would presumably radiance immoderate airy connected its past narration with Merit Peak.
Previously, connected Feb. 18, Senator Roger Marshall said that U.S. Congress could clasp an enquiry into Binance.US implicit Merit Peak and different issues.
The station Binance.US responds to senators’ missive connected “potentially illegal” activities appeared archetypal connected CryptoSlate.
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