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U.S. Justice Department Says Binance Is Required to Aid Criminal Investigations

Thu, 07/15/2021 - 14:11
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Alex Dovbnya
The U.S. Justice Department is refusing to thank Binance for aiding investigations
U.S. Justice Department Says Binance Is Required to Aid Criminal Investigations
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The U.S. Justice Department has reportedly asked the Federal Bureau of Investigation and other federal agencies not to send thank you notes to Binance for its assistance in criminal probes.

According to Bloomberg, the DOJ claims that the world's largest cryptocurrency exchange is actually required by law to aid investigations into illicit cryptocurrency transfers.

Malta Distances Itself from Binance (Again)

"Totally bizarre"

Jake Chervinsky, general counsel for Compound Finance, has commented that it is "totally bizarre" that Binance was asking U.S. government authorities for thank you notes.

Binance itself is under investigation for tax evasion and money laundering, Bloomberg found out in May.

CEO Changpeng Zhao, however, accused the media outlet of misinterpreting the crux of the story since he claimed that his company was actually helping the U.S. government to fight bad actors.

Zhao himself posted a letter of commendation that Binance received from a U.K. police unit in late June—just days before the Financial Conduct Authority issued a consumer warning about a Binance subsidiary.

California detective Robert Gonzalez told Bloomberg that Binance had already sent him a written note, and he only had to make a few corrections.

Mounting pressure

While it might seem like a trifle, the DOJ's refusal to thank Binance may indicate that the U.S. government is adopting an increasingly hawkish attitude toward the exchange.

As reported by U.Today, Italy recently joined a slew of other countries that are putting the clamps on the leading cryptocurrency trading platform.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at