Prosecutors Split Over Charging Binance, CZ: Report – Crypto News – Crypto News
Connect with us
Changpeng Zhao, Binance Changpeng Zhao, Binance

Business

Prosecutors Split Over Charging Binance, CZ: Report – Crypto News

Published

3 years ago

on

US Department of Justice prosecutors are divided on whether they should move ahead with filing criminal charges against Binance and its top executives, including CEO Changpeng Zhao, Reuters Reported,

According to sources cited by Reuters, US Department of Justice prosecutors are divided on whether to file criminal charges against Binance and Changpeng Zhao for violating anti-money laundering sanctions. The world’s largest crypto exchange came under investigation in 2028 over its compliance with US anti-money laundering laws and sanctions.

Sufficient evidence against Binance and CZ

According to the report, some federal prosecutors involved in the case believe they have sufficient evidence to move forward and file criminal charges against individual executives including founder Changpeng Zhao. However, some prosecutors are delaying and taking more time to review the case. Prosecutors from three different justice departments are involved in the inquiry: the Money Laundering and Asset Recovery Section, known as MLARS, the US Attorney’s Office for the Western District of Washington in Seattle and the National Cryptocurrency Enforcement Team.

Binance Denies Reuters Reports

Responding swiftly to the Reuters report, Binance denied such reports claiming that they don’t have insights into the workings of the Department of Justice and nor can they confirm if they did. Binance tweeted from its official Twitter account, “Reuters has it wrong again.” The crypto exchange praised the law enforcement team in its response to Reuters saying, “Reuters is attacking our incredible law enforcement team. A team that we’re incredibly proud of – they’ve made crypto more secure for all of us.”

Jai is a Crypto and Blockchain enthusiast with over three years of working with different major media houses. His current role at Coingape includes creating high-impact web stories under tight deadlines. When not working, you’ll find him reading Russian literature or watching some Swedish movie.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending