According to Nouriel Roubini, “there are seven C’s in crypto: concealed, corrupt, crooks, criminals, conmen, carnival barkers and, finally, CZ.”
Reuters have published the results of an investigation into Binance, revealing that the company pursued a strategy of misleading and dodging regulators which involved forging documents, among others.
An ongoing U.S. Department of Justice probe into whether Binance violated the Bank Secrecy Act sought internal records to determine if the digital currency exchange was complying with AML rules.
Over 2,000 investors have signed up for the lawsuit, which accuses Binance of employing a market strategy of misleading as many investors as quickly as possible.
Controversial digital currency exchange Binance has a lot of ‘splainin to do after it unveiled—and then quickly withdrew—a new swastika-themed emoji on Adolf Hitler’s birthday.
The U.S. Securities and Exchange Commission has opened an investigation into Binance.US over its relationship with two trading firms said to be trading against Binance.US customers.
Hot on the heels of the sudden and mysterious resignation of new Binance.US CEO Brian Brooks comes more speculation the exchange may be under the U.S. Securities and Exchange Commission probe.
Binance will now require all users to prove their identities and verify their faces as it tightens AML checks, even as investors pulled out of $100M funding.
The beleaguered Binance cryptocurrency exchange continues to rein in its excesses in a bid to avoid the fate suffered by some U.S.-facing online gambling sites.