{"id":79958,"date":"2023-06-08T19:47:02","date_gmt":"2023-06-08T16:47:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79958"},"modified":"2025-09-11T14:00:35","modified_gmt":"2025-09-11T11:00:35","slug":"u-s-senators-suspect-binance-of-making-false-statements","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/u-s-senators-suspect-binance-of-making-false-statements\/","title":{"rendered":"U.S. Senators suspect Binance of making false statements"},"content":{"rendered":"<p>The U.S. Department of Justice should initiate an investigation into Binance to determine whether the cryptocurrency exchange lied to lawmakers about its business practices. This is stated in a letter from Senators Elizabeth Warren and Chris Van Hollen, reported by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-08\/binance-appears-to-have-lied-to-lawmakers-elizabeth-warren-says?sref=3REHEaVI&#038;leadSource=uverify%20wall#xj4y7vzkg\">Bloomberg<\/a>.<\/p>\n<p>In their view, the company may have made false statements regarding the independence of its U.S. subsidiary.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This is a serious issue,&#8221; the authors of the letter stressed.<\/p>\n<\/blockquote>\n<p>On June 5, <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">brought a lawsuit against Binance<\/a> and its CEO Changpeng Zhao. The regulator leveled 13 counts, including unregistered offers and sales of BNB and BUSD tokens.<\/p>\n<p>According to the SEC, the head of the company &#8220;secretly controlled&#8221; the U.S. subsidiary. Earlier a similar conclusion <a href=\"https:\/\/forklog.com\/en\/news\/reuters-reports-binance-controlled-the-accounts-of-an-independent-us-affiliate\">was published by<\/a> Reuters.<\/p>\n<p>In March, Warren and Van Hollen, together with colleague Roger Marshall <a href=\"https:\/\/forklog.com\/en\/news\/u-s-senators-call-binance-a-hotbed-of-illicit-financial-activity\">sent Binance a letter<\/a> asking for detailed information about Know Your Customer\/Anti-Money Laundering policies and money-laundering controls.<\/p>\n<p>Moreover, the policymakers accused the platform of regulatory evasion and links to criminals, calling it a hotbed of illicit financial activity.<\/p>\n<p>Zhao <a href=\"https:\/\/forklog.com\/en\/news\/binance-denies-accusations-by-u-s-senators\">denied<\/a> the accusations, noting that the platform&#8217;s primary priority is protecting users&#8217; interests. According to him, the letter sent by the lawmakers was received for the first time. The company <a href=\"https:\/\/forklog.com\/en\/news\/media-binance-gives-a-surface-level-response-to-us-senators\">provided<\/a> the senators with a response, but it hardly touched on the financial aspect.<\/p>\n<p>In the spring, Binance <a href=\"https:\/\/forklog.com\/en\/news\/cftc-files-suit-against-binance-and-changpeng-zhao\">faced a lawsuit<\/a> by the U.S. Commodity Futures Trading Commission. The regulator contends the platform violated derivatives trading rules by operating without proper registration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Department of Justice should initiate an investigation into Binance to determine whether the cryptocurrency exchange lied to lawmakers about its business practices.<\/p>\n","protected":false},"author":1,"featured_media":79959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1175,26],"class_list":["post-79958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-elizabeth-warren","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79958"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79958\/revisions"}],"predecessor-version":[{"id":79960,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79958\/revisions\/79960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79959"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}