According to Reuters reports, US prosecutors Binance CEO Changpeng Zhao May Prepare Criminal Charges
However, it has been argued that CZ may not be charged at all because there is a lot of evidence to consider.
It has also been reported that Binance and other executives could also face money laundering charges for breaking the law by allowing criminals to use the exchange to avoid penalties.
US prosecutors began investigating Binance back in 2018 on suspicions that Binance may be a platform used by criminals to launder money.
The Reuters report also reveals that Binance has been investigating the exchange since the beginning of the year, and that Binance has been accused of facilitating billions of dollars in money laundering and circumventing penalties.
Binance’s team denied this, saying the company was following all the laws and tightening up its measures. He reiterated that internal US Justice Department officials were not known, but had hired a former money laundering chief to negotiate with prosecutors. According to the report, pleadings are likely to begin soon.
After Binance News, Bitcoin Price Drops Below $17,000
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