Despite claiming they are wholly independent of one another, global crypto-trading giant Binance and its American entity Binance.US mixed staff and finances and communicated with each other about avoiding legal and regulatory scrutiny in the U.S., The Wall Street Journal reported, citing interviews as well as messages and documents from 2018 to 2020. A Binance spokesperson told the newspaper that the platform is “a very different company today when it comes to compliance.” (The Wall Street Journal)
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Despite claiming they are wholly independent of one another, global crypto-trading giant Binance and its American entity Binance.US mixed staff and finances and communicated with each other about avoiding legal and regulatory scrutiny in the U.S., The Wall Street Journal reported, citing interviews as well as messages and documents from 2018 to 2020. A Binance spokesperson told the newspaper that the platform is “a very different company today when it comes to compliance.” (The Wall Street Journal)
Talking point: Binance has long faced questions and allegations about its compliance efforts. Those concerns are especially pressing now that it has positioned itself as a leader and potential bailout architect for the sector following the collapse of rival FTX. Binance signed a legal commitment with the Ontario Securities Commission last year to cease trading in the province after a spat with the regulator, but remains Canada’s third most popular crypto-trading platform, according to survey data from the commission.
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