- Lawmakers accuse stock exchange of dodging regulators
- Binance will provide all the necessary information to the senators
Three legislators accuse the largest cryptocurrency exchange Binance in non-compliance with the law. Elizabeth Warren, Chris Van Hollen and Roger Marshall sent a letter to the exchange’s CEO asking for details of the company’s balance sheets.
The group also asked for information about the procedures within the platform and called the exchange a “hotbed of illegal financial activities.” In the letter, the senators accuse Binance of dodging regulators. They said that the exchange transfers assets to criminals and sanctions violators, and also hides basic financial information from its customers and the public.
A Binance representative tried to justify the company, he stated:
“We always respond to requests from the jurisdictions in which we operate. In our opinion, the allegations in the letter were false. A lot of misinformation has been circulated about our company, we are waiting for reliable information to be released.”
He added that Binance will provide information to senators to help better understand why the exchange remains the most trusted platform for users around the world.