The largest exchange in the world, Binance , has immediately responded to the complaint filed last Tuesday by the Commodity. Futures Trading Commission (CFTC) against the company itself and its CEO, Changpeng Zhao ( CZ) . It is Zhao himself who signs the statement published on his website, in which he defends himself against the accusations. They describe the complaint as “unexpected and disappointing”, and assure that they have been collaborating with the CFTC for more than 2 years. They argue that the text contains an incomplete enumeration of the facts, and that they do not agree with the characterization of many of the issues alleged in the complaint. The accusation of advising Binance clients to evade its own controls. The lawsuit accuses Binance of, among other things, advising its clients. In the United States (especially VIPs) on how to evade the company’s own controls.
Our income is in cryptocurrencies
Given this, Changpeng Zhao has asserted that “they have developed best-in-class technology to ensure compliance. Binance.com is the first global exchange (outside the US) to implement a mandatory KYC program , and continues. To have one of the the highest standards in KYC and AML. He recalled that “they blocked US users by nationality (KYC), IP (including commonly used VPN endpoints outside the US), mobile operator, device fingerprints, deposits Lists Of Mobile Number List and bank withdrawals, blockchain deposits and withdrawals , credit card container numbers and more.” The plaintiffs also highlight that “the defendants’ emails reflect that Binance’s compliance efforts were a sham . ” Commenting on this, the CEO of Binance has emphasized that they are committed to transparency and cooperation. With regulators and law enforcement in the US and around the world.
Binance collaborates with law enforcement
Binance transferred funds from its clients for its own purposes, in a move similar to that of FTX Binance, he detailed, “currently has more than 750 people in our Compliance teams, many of them with previous. Experience in regulatory and law enforcement agencies .” To date, “we have handled more than 55,000 requests from law enforcement agencies and have UK phone number list helped them freeze/seize more than €115.57 million ($125 million at current exchange rates) in funds in 2022 alone, and €147.93 million euros (160 million dollars) so far in 2023,” he indicated. 90-day rule for employees not to trade cryptocurrencies Another comment. That CZ makes in his response refers to the fact that his company “does not trade for profit or manipulate the market under any circumstances.
