Thursday US news – Cryptocurrency exchange Binance is under investigation
14 May 2021
At this stage its an investigation only, the exchange has not been accused of wrongdoing:
- money laundering
- tax offences
An Achilles heel for the acceptance of crypto generally is its role in facilitating criminal activity payments. Indeed, it appears Colonial Pipeline paid hackers circa $5m in crypto re the network failure this week. Crypto defenders point out that plenty of fiat currency is used in criminal activities also. Which is true.