The US Department of Justice made a statement about Binance

The US Department of Justice made a statement about Binance. Binance’s compliance commitments with the U.S. Department of Justice (DOJ) have been announced to the public. Also, this development can be considered as an indication of the government’s right to provide oversight on cryptocurrency operations and commercial activities.

You might like: Shiba Inu Graphic Review and Price Analysis!

Binance’s new obligations were detailed in an 11-page document. It was emphasized that the Department of Justice has permission to access all of Binance’s documents and resources.

The US Department of Justice made a statement about Binance

The Department of Justice stated that it will closely monitor Binance’s activities, especially in areas such as money laundering. The previous agreement includes FinCEN’s authority to provide oversight for five years, and these oversight activities could cost the exchange millions of dollars. Former SEC official John Reed Stark stated that Binance’s agreement grants the DOJ, FinCEN, and other financial regulators broad access and audit authority for years.

Binance’s former CEO Changpeng Zhao and the company admitted to violating U.S. laws by agreeing to pay a fine of $4.3 billion on November 21. The SEC came forward with 13 charges against Binance on June 5, claiming that products related to BUSD and BNB tokens were unregistered and also alleged that the institution operated as an unregistered broker.

The SEC expressed its desire to receive “fair notice” about the facts of Binance’s agreement from the court, objecting to Binance’s request for dismissal of the case. This situation reflects Binance’s contentious situation with U.S. regulators.

Also, feel free to share your thoughts on the topic in the comments. Additionally, you can follow us on Telegram, YouTube, and Twitter for more real-time news and updates.