Thursday US news – Cryptocurrency exchange Binance is under investigation

Thursday US news – Cryptocurrency exchange Binance is under investigation

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. 

BTC update:

Adam had the news posted overnight that Binance is facing investigations from the Justice Department and the IRS.

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