Bloomberg has reported that the US IRS and the Department of Justice (DOJ) have begun investigating crypto exchange Binance.
The source mentions that officials from the IRS and DOJ have “sought information from individuals with insight into Binance’s business,” but mentioned that the ” federal agencies haven’t accused Binance of wrongdoing.”
In March, it was announced that the Commodity Futures Trading Commission (CFTC) planned on investigating if Binance permitted US residents to trade using the platform.
Following the news, the CEO of Binance, Changpeng Zhao, tweeted: “So much FUD today. It’s a pain for some, an opportunity for others.”
A spokesperson for the company declared: “We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion. We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity. We have a strong track record of assisting law enforcement agencies around the world, including in the United States. We don’t comment on specific matters or inquiries.”