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Binance Announces Resolution with US Agencies, Shares Compliance Improvement

Binance says it has agreed to a robust monitorship for its compliance and sanctions control programs. Popular crypto exchange Binance has revealed that it has made significant progress with regulators. This follows after its recent run-in with regulatory bodies such as the US Securities and Exchange Commission (SEC) and the (CFTC). In a Tuesday blog post, the exchange acknowledged that it may have done things a bit wrongly in the past. That is, it may have not considered how quickly it was...

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SEC Intensifies Hunt for Evidence in Binance.US Fraud Probe

According to the US Commodity Futures Trading Commission (CFTC), allegations of money laundering against Binance may be just the tip of the iceberg. Binance, one of the world’s largest crypto exchanges, faces heightened scrutiny from the US Securities and Exchange Commission (SEC). A recent report by the Wall Street Journal suggests that the SEC is actively searching for additional evidence to substantiate allegations of potential fraud at Binance.US. The SEC’s Lawsuit against Binance The...

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California-Based Resident Sues Binance.US and CZ for Their Role in FTX’s Downfall

The suit is demanding monetary damages, court costs and the remission of ill-gotten gains based on seven counts. Binance.US and Binance CEO Changpeng Zhao have both been slammed with a class-action suit. The suit was filed in the District Court of Northern California by a resident of the US state simply identified as Nir Lahav. According to the October 2 filing, Binance.US and Binance CEO played prominent roles in the downfall of its then competitor FTX. The filing also alleged that, in...

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Binance.US Responds to SEC, Calls Agency’s Requests ‘Unreasonable’

Lawyers representing Binance.US believe that, overall, the SEC’s moves so far would do more harm than good for its bidding. Binance.US has claimed that the United States Securities and Exchange Commission’s (SEC) requests have been “unreasonable” with most of its requests. This is according to sealed documents filed by attorneys of the Binance.US cryptocurrency exchange on September 12. The filing – a response to SEC’s earlier request to get additional details from Binance, says most of...

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Binance Hires Former Justice Department Prosecutor in Fight with SEC

Kendall Day led the department’s efforts to combat money laundering, including dealing with charges related to money laundering, deferred prosecution agreement, etc. Amid its ongoing legal fight with the US Securities and Exchange Commission (SEC), crypto exchange Binance has hired a former white-collar prosecutor of the Department of Justice (DoJ), as per the court filing on Thursday, June 22. M. Kendall Day, a partner at Gibson Dunn & Crutcher’s Washington DC office, will serve as...

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Binance.US Solves USD Withdrawal Problems but Warns that Solution Is Only Temporary

Binance.US withdrawals are now fully operational on the exchange, even as it warns users to convert all USD to USDT. Binance.US has announced that users can now resume USD withdrawal, as it has solved the problem. The US arm of the world’s largest crypto agency also said that by working with banking partners, it has almost completely resolved all previously delayed withdrawal requests for USD. However, the exchange warns that this resolution may not be permanent. In an official...

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