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☆ Binance execs' texts, documents show plan to avoid U.S. scrutiny - WSJ
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

The report is based on messages and documents from 2018 to 2020 reviewed by The Wall Street Journal as well as interviews with former employees. Binance developers in China maintained the software code that supported Binance.US users' digital wallets, potentially giving Binance access to U.S. customer data, the WSJ reported. If U.S. regulators determine that Binance has control over its U.S. entity, they could claim the power to police Binance's entire business. Binance, Binance.US, the SEC and DOJ did not immediately respond to Reuters' requests for comment. Reuters has reported that Binance.US was created as a de facto subsidiary in 2019 to draw the scrutiny of U.S. regulators away from Binance.com.

Senators have asked giant cryptocurrency exchange Binance and its U.S. partner Binance.US for information about their regulatory compliance and finances, citing a series of investigations by Reuters and some other media reports, according to a letter released on Wednesday. The collapse of rival crypto exchange FTX, whose founder Sam Bankman-Fried has been charged with fraud, “underscored the need for real transparency and accountability in the crypto industry," the senators wrote. Binance has previously disputed Reuters’ articles, calling the illicit-fund calculations inaccurate and the descriptions of its compliance controls "outdated." In the letter, first reported by the Wall Street Journal, the senators requested Binance and Binance.US provide documents and answers to their questions by March 16. The senators are seeking information about the companies’ balance sheets, U.S.-based users, anti-money laundering policies.

☆ Senators press crypto exchange Binance on potentially illegal business practices after FTX collapse
▼ + stars: | 2023-03-02 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — A bipartisan group of senators asked Binance, the world's largest cryptocurrency exchange and once-competitor to bankrupt crypto giant FTX, for detailed information on its business operations amid accusations of illegal practices. A spokesperson for Binance told CNBC that the company looks forward to "correcting the record" about its operations. Binance has become the definitive leader in the digital currency exchange industry since FTX filed for bankruptcy and its founder, Sam Bankman-Fried, stepped down in November. In their letter, the senators outlined the Justice Department's allegations against Binance, and contended the company has showed a lack of transparency. FTX's collapse, which affected over 1 million investors, highlighted "the need for real transparency and accountability in the crypto industry," the senators wrote.

☆ Binance is a 'hotbed of illegal financial activity' and is hiding basic info from customers, US senators say in scathing letter to the world's biggest crypto exchange
▼ + stars: | 2023-03-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

US senators accused the world's largest crypto exchange of being "a hotbed of illegal financial activity." In a scathing letter to Binance, lawmakers requested copies of the company's balance sheets since 2017. A Binance spokesperson said the exchange will help lawmakers understand why it remains "the most trusted platform with users across the globe." The senators asked for a response by March 16 and sought more information about the relationship between Binance.com and Binance.US. Binance also has reportedly faced a slew of legal and regulatory probes from the SEC and the US Justice Department.

☆ Crypto giant Binance moved $400 million from U.S. partner to firm managed by CEO Zhao
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: +6 min

The Binance.US account was registered under the name of BAM Trading, the U.S. exchange's operating company, according to the records. Prime Trust made $650 million in wire transfer deposits into the Binance.US account during the quarter, the bank records show. A Binance.US spokesperson, Kimberly Soward, did not address Reuters' questions about the transfers detailed in the bank records. The Binance global exchange, Binance CEO Zhao and Prime Trust did not respond to detailed questions about the transfers. The Binance.US account records reviewed by Reuters detail each transaction between January and the end of March 2021.

Prime Trust made $650 million in wire transfer deposits into the Binance.US account during the quarter, the bank records show. The Binance global exchange, Binance CEO Zhao and Prime Trust did not respond to detailed questions about the transfers. Among the dealers on Binance.US was Merit Peak, according to company messages, the trading firm managed by CEO Zhao. From January to March 2021, the account records show that Merit Peak received 89 transfers from the Binance.US SEN account totalling $404 million. These transfers often immediately followed a deposit into the Binance.US account by Prime Trust, the crypto custodian firm for Binance.US client funds.

☆ Crypto exchange Binance registers in Sweden
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, Jan 12 (Reuters) - Sweden's financial watchdog said on Thursday it had registered crypto exchange Binance this week as a financial institute in the country. Binance accounts for over half the global crypto trading market. The core of the company's business, the giant Binance.com exchange, last year processed trades worth over $22 trillion. A Reuters analysis in December of Binance's corporate filings in 14 jurisdictions showed that the Binance.com exchange remains mostly hidden from public view. Binance said in a statement shared on Thursday by its CEO on Twitter that with the latest registration, Swedish residents can legally access services including crypto trading and withdrawing and depositing euros on the exchange.

☆ French clients file complaint against Binance over social media marketing practices
▼ + stars: | 2022-12-20 | by ( Tassilo Hummel | ) www.reuters.com time to read: +2 min

The complaint does not automatically mean French prosecutors will open a formal investigation following the complaint. The complaint, seen by Reuters, says Binance carried out marketing campaigns on social media platforms such as Instagram and Telegram when its official registration as a digital financial service was still pending with French authorities. The lawyers did not give the names of the Binance clients behind the complaint, citing privacy rules. News website Mediapart which first reported on the French complaint, cited Zhao as saying that "Binance has not been promoting its offers in France before it was allowed to". Binance has marketed itself globally, enlisting hundreds of so-called "Binance Angels" as volunteers across the world countries to promote the exchange to local crypto traders on social media.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Crypto firm Voyager to sell assets to Binance.US in $1 bln deal
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

Dec 19 (Reuters) - Crypto firm Voyager Digital Ltd said on Monday it will sell its assets to Binance.US in a deal valued at about $1 billion following a review. However, the bigger blow came after larger crypto exchange FTX filed for bankruptcy protection last month. In September, Voyager Digital said FTX won an auction for its assets, in a bid valued at about $1.42 billion after Voyager filed for Chapter 11 bankruptcy protection in July. Voyager said on Monday it will seek Bankruptcy Court approval for the deal with Binance.US at a hearing on Jan. 5, 2023. The collapse has fanned fears about the future of the crypto industry after FTX outlined a "severe liquidity crisis".

Almost all the funds, some $7.8 billion, flowed between Binance and Iran's largest crypto exchange, Nobitex, according to a review of data from leading U.S. blockchain researcher Chainalysis. The scale of Binance's Iranian crypto flows – and the fact that they are continuing – has not been previously reported. The total volume of Iranian transactions flowing through Binance is far greater than through any other exchange, the data show. The vast majority of the $8 billion in Iranian crypto transactions identified by Reuters involved the main Binance exchange. This October, the Treasury fined Seattle-based crypto exchange Bittrex $24 million for violating sanctions on Iran and other countries by processing crypto transactions worth over $260 million.

☆ Lovitură în piaţa criptomonedelor: Autorităţile britanice interzic Binance, cel mai mare exchange de criptomonede din lume
▼ + stars: | 2021-06-29 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: ProfimediaLovitură în piaţa criptomonedelor: Autorităţile britanice interzic Binance, cel mai mare exchange de criptomonede din lumeBinance, cel mai mare exchange de criptomonede din lume, a fost interzis de către autoritatea de reglementare financiară din Marea Britanie. Financial Conduct Authority (FCA) a decis că firma nu poate desfăşura nicio „activitate reglementată” în Marea Britanie. Binance Group are sediul în prezent în Insulele Cayman, în timp ce Binance Markets Limited este o firmă afiliată cu sediul în Londra. Firma are mai multe entităţi împărţite în întreaga lume, iar Binance Group avea sediul anterior în Malta, transmite Ziarul Financiar. FCA a spus că Binance Markets Limited (BML), deţinută de Binance Group, nu are în prezent permisiunea de a desfăşura activităţi reglementate fără acordul prealabil scris al FCA.

Persons: instituţia, FCA Organizations: Financial Conduct Authority, Binance, Group Locations: Britanie, criptoactive, Insulele Cayman, Londra, Malta

☆ Купить биткоин в Молдове? Можно ли на этом заработать, если ты не Илон Маск. Гид NM
▼ + stars: | 2021-04-23 | by ( ) newsmaker.md time to read: +10 min

Что вообще из себя представляет криптовалюта, почему она такая дорогая, можно ли ее купить в Молдове, и стоит ли вкладывать в нее деньги? По данным на 22 апреля, один биткоин стоил $54,5 тыс., при этом в начале 2021 года курс составлял около $30 тыс. Поэтому, несмотря на то, что один биткоин стоит более $64 тыс., не обязательно иметь много денег, чтобы его купить. Чтобы купить криптовалюту, надо создать криптовалютный кошелек или аккаунт на бирже криптовалют. Кроме того, для начала надо разобраться в технологиях и в электронных и криптокошельках, а, вкладывая в криптовалюту деньги, понимать, что на этом можно как быстро заработать, так и быстро прогореть.

Persons: Ethereum, BNB, Skrill Webmoney, SWIFT, Программкошельков, криптовалютойЭто, Ктото Organizations: PayPal, Visa, Mastercard, Нацбанк, Ю, Яндекс.Деньги, Государственная налоговая служба, ИтогоДолгосрочно Locations: —, NMoney, ., Молдова

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