LCXwire.com releases a controversial article on Binance regarding ongoing financial and regulatory investigations by many national entities of the Crypto giant. The article also summarizes the many benefits Binance brings to crypto investors and asks the question, will the largest exchange survive.
Tag Cloud
Will investigations take down Binance as the
world's largest crypto exchange?
Binance is the world’s largest
cryptocurrency exchange by
trading volume was founded
in China in 2017
It currently has more than 28.6
million users around the world
and facilitated $7.7 Trillion of
crypto exchange volume in
2021
Binance stopped accepting
U.S. users due to U.S.
government investigations for
tax fraud and money laundering
and announced it would partner
with Binance.US
It continues to experience
financial investigations in the
U.S., U.K., Japan, The E.U.,
Germany, Thailand, South
Korea, Malaysia and China.
CEO Changpeng Zhao has
repeatedly praised the
company's anti-money
laundering program
But at the same time, Binance
was withholding information
about its finances and
corporate structure from
regulators
Binance is hiring more
people and building more
systems in order to better
comply with local laws,
according to Zhao
the company will double its
international compliance
team by adding prominent,
well-respected individuals
and advisors
As for the exchange, Zhao
said it will continue to
strengthen its anti-money
laundering controls and
partnerships
For now many individual crypto
investors will most likely find the
benefits of using Binance as a
trading platform far outweigh the
potential impacts of the current or
future investigations
Find Out More At
https://lcxwire.com
world's largest crypto exchange?
Binance is the world’s largest
cryptocurrency exchange by
trading volume was founded
in China in 2017
It currently has more than 28.6
million users around the world
and facilitated $7.7 Trillion of
crypto exchange volume in
2021
Binance stopped accepting
U.S. users due to U.S.
government investigations for
tax fraud and money laundering
and announced it would partner
with Binance.US
It continues to experience
financial investigations in the
U.S., U.K., Japan, The E.U.,
Germany, Thailand, South
Korea, Malaysia and China.
CEO Changpeng Zhao has
repeatedly praised the
company's anti-money
laundering program
But at the same time, Binance
was withholding information
about its finances and
corporate structure from
regulators
Binance is hiring more
people and building more
systems in order to better
comply with local laws,
according to Zhao
the company will double its
international compliance
team by adding prominent,
well-respected individuals
and advisors
As for the exchange, Zhao
said it will continue to
strengthen its anti-money
laundering controls and
partnerships
For now many individual crypto
investors will most likely find the
benefits of using Binance as a
trading platform far outweigh the
potential impacts of the current or
future investigations
Find Out More At
https://lcxwire.com