Supporting documents provided by Binance played a substantial role the investigations led by US authorities.
Binance Helps DOJ Takedown Bitzlato
Documents released on January 18 showed Binance as one of the principal conduits for Bitzlato users to offload their cryptocurrencies from the dark web. A Binance spokesperson shared with Bloomberg on January 18 that the world’s largest crypto exchange cooperated with US authorities in providing documentation that was crucial to assist the investigations.
“Binance is pleased to have provided substantial assistance to international law enforcement partners in support of this investigation. This exemplifies Binance’s commitment to working collaboratively with law enforcement partners worldwide,” said a Binance spokesperson.
The central role of Binance supporting the authorities is a welcoming contrast to how Binance has recently been the focus of investigations.
Binance’s massive market share in the crypto industry means it has high exposure to criminal activity. US investigators subpoenaed several hedge funds in early January related to Binance, which was a part of an ongoing money-laundering investigation.
The latest cooperation by Binance to help takedown Bitzlato is a testament of good faith by Binance to US authorities that the exchange is looking to build a positive relationship. The support for Binance was crucial to taking down Bitzlato, and Binance’s market share means it will likely play a central role in similar situations in the future as well.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Source : bsc.news
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