Could help Russia bypass sanctions: The U.S. launched an investigation into the cryptocurrency exchange Binance
The U.S. Department of Justice is investigating the possible involvement of the cryptocurrency exchange Binance in circumventing U.S. sanctions. It is believed that the exchange may have helped Russians transfer funds despite the restrictions.
This is reported by Bloomberg. Binance says it strictly complies with all financial sanctions, including U.S. and international sanctions.
The Justice Department's National Security Division's investigation into Binance's possible involvement in circumventing U.S. financial sanctions. There is speculation that the world's largest cryptocurrency exchange helped Russians transfer funds despite the sanctions imposed on Russia, including those related to the invasion of Ukraine.
The source reports that Binance is currently negotiating with the U.S. Department of Justice over complaints that the exchange was used to circumvent sanctions against Iran. In a statement, the company claims to be in full compliance with all U.S. and international financial sanctions.
"In 2021, Binance has taken the initiative to completely overhaul its corporate governance structure, including hiring experienced world-class executives to fundamentally change Binance's global operations," the company said in a statement.
Binance says its protocols require every customer to undergo verification, which includes country of residence controls and personal identification.
As reported by OBOZREVATEL, the G7 countries and the EU intend to increase pressure on the Russian economy. For this purpose, a new package of sanctions is being developed, the key goal of which is to close loopholes in previously imposed restrictions. That is, Ukraine's partners intend to make it impossible to circumvent the existing sanctions.
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