Another flash point in the “war on crypto”? The Securities and Exchange Commission (SEC) also launched an investigation into Binance’s US division in February last year, focusing on trading firms linked to CEO Changpeng Zhao.

In March 2021, the Commodity Futures Trading Commission (CFTC) also investigated whether the company offered crypto derivatives to US customers without first registering with the body.

In 2018, the Department of Justice (DoJ) launched an investigation into potential violations of anti-money-laundering laws by Binance. Over the years, several regulatory bodies in the U.S. He affirmed that the lack of clarity for crypto in the US made it a confusing time for the exchange. Even then, he couldn’t provide a figure for the fines or a timeframe for resolution. Hillmann added that Binance felt confident about the direction of the discussions. However, that would be up to the regulators. He also stated that, most likely, the outcome of ongoing investigations will be penalties. On 15 February, the Washington Post reported that Binance has been working with regulators to resolve previous compliance issues, citing the firm’s chief strategy officer, Patrick Hillmann. Leading crypto exchange Binance is preparing to face penalties in order to resolve outstanding regulatory and law enforcement investigations in the United States. regulators would be beneficial to the future of the exchange. Sources believe that resolving issues with U.S.Leading crypto exchange Binance is preparing to face penalties to resolve investigations in the U.S.

Binance investigation