An investigation focused on Binance’s compliance with U.S. anti-money laundering laws is being delayed due to splits between U.S. Department of Justice prosecutors, Reuters found
DOJ officials have discussed possible plea deals with Binance's attorneysBinance says it has no insight into the "inner workings of the US Justice Department"
Through interviews with almost a dozen people familiar with the case, including current and former U.S. law enforcement officials and ex-Binance advisors, along with a review of company records, Reuters has pieced together the most comprehensive account so far of how the investigation developed and. Prosecutors' deliberations on charging Binance have not been previously reported.
The charges under investigation are unlicensed money transmission, money laundering conspiracy and criminal sanctions violations, the four people said. No final charging decisions have been made, though prosecutors consider Zhao and some other executives to be subjects of the investigation, one source familiar with the situation said.
FTX imploded in early November, triggering a wave of public demands for greater regulation of the cryptocurrency industry. Founder Sam Bankman-Fried had boasted his exchange was the "most regulated," but he based it in the Bahamas, where oversight was light, and. The Justice Department has opened an investigation into FTX's handling of company funds, Reuters has reported.
The Seattle office partnered with MLARS to pursue the case, along with agents from the IRS Criminal Investigation division. A guide issued to employees for one encrypted messaging service listed its "automatic self-erasing messages" as a benefit. A Binance.US spokesperson said Reuters' questions were "fueled with false insinuations," and Binance.US was a separate entity with its own leadership team who are "solely responsible for overseeing decisions and activity across the business."
His hiring was part of a recruitment program by Binance among law enforcement officials in the United States, offering salaries that far exceeded what was available at many other finance and crypto firms, according to four people familiar with the outreach.
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