Binance, the world’s largest cryptocurrency exchange, may be charged with a crime

John Reed Stark, the former head of the U.S. Securities and Exchange Commission’s (SEC) Office of Internet Enforcement, believes that Binance, the world’s largest cryptocurrency exchange, may be charged with a crime. According to Stark, the US Department of Justice will file or has already filed an indictment under the «secret» stamp in a criminal case related to Binance.

John Reed Stark, who worked as a lawyer at the SEC for 15 years and was behind the creation of the agency’s cyber investigations unit, wrote on Twitter that the US Department of Justice will or has already charged the leading crypto exchange with money laundering.

«There are a number of indications that the US Department of Justice will file criminal charges related to Binance. Neither the CFTC case nor the SEC case focuses on money laundering, which is the area that has been highlighted and reserved for the DOJ’s prosecution of Binance ,» Stark wrote.

In his opinion, the CFTC and SEC lawsuits are more like criminal ones, as they contain many allegations of fraud, deception, obstruction of justice, and money laundering. The lawyer believes that the US Department of Justice is cooperating with the SEC, CFTC and numerous whistleblowers. The next step is to file or disclose criminal charges against Binance.

Among the informants of the US government agencies are former Binance. US executives. The testimony of Catherine Cowley and Brian Brooks has already been partially included in the SEC’s lawsuit.

As a reminder, the U.S. Securities and Exchange Commission filed 13 charges against Binance and Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao. The lawsuit alleges that Binance disregarded US securities laws, enriching itself by billions of dollars. Following Binance, the SEC filed a lawsuit against Coinbase with similar allegations. The regulator also filed a motion to freeze crypto assets belonging to the Binance. US platform.

Also, on March 27, the U.S. Commodity Futures Trading Commission (CTFC) filed a lawsuit against Binance alleging that the exchange actively worked with U.S. investors, including institutional and VIP clients, without having the right to do so.