Three US senators led by Elizabeth Warren sent letters to Binance CEO Changpeng “CZ” Zhao and Binance.US CEO Brian Shroder, raising concerns about Binance’s activities and requesting information from the company, including its balance sheet.
Other senators are Democrat Chris Van Hollen and Republican Roger Marshall. They claim there is evidence the firms try to circumvent US regulators, circumvent sanctions, and facilitate at least $10 billion in money laundering. and lack of transparency
“Little information about Binance’s finances is publicly available. It shows that exchanges are a hotbed of illegal financial activity,” the senator wrote in a nutshell:
The senators requested documents and other information, namely “the balance sheet of Binance and all of its subsidiaries from 2017 to the present.” They also requested a copy of their anti-money laundering and similar policies. It includes a document on the relationship between Binance and Binance US and other information, as well as a description of the news reports. They give recipients two weeks to respond.
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