Texts From Crypto Giant Binance Reveal Plan to Elude U.S. Authorities
Exchange was intertwined with American firm portrayed as independent. Now, regulators are circling.. The exchange was intertwined with the American firm, which was portrayed as independent. Now, regulators are circling.
Binance was the first cryptocurrency exchange to make it big in 2017, and has since grown to be the largest digital-currency exchange in the world. It soon ran into problems.
Although it operated mainly from hubs in China, Japan and Japan, a fifth of its customers were located in the U.S. where authorities warned about a crackdown on unregulated offshore cryptocurrency players. A lawsuit by U.S. regulators could be like a 'nuclear meltdown' for Binance's company and its officers, according to a Binance executive in a private chat.