Binance News: Massachusetts Senator Elizabeth Warren and Maryland Senator Chris Van Hollen have called on the US Justice Department to investigate beleaguered crypto exchange Binance, over potential false statements made to lawmakers regarding its business operations. In a letter addressed to US Attorney General Merrick Garland, the senators highlighted concerns raised by the Securities and Exchange Commission’s (SEC) recent 136-page complaint, which alleges that Binance.US, the American affiliate of Binance, was not truly a separate entity as claimed.
The letter follows a previous inquiry initiated by Senators Warren, Van Hollen, and Republican Senator Roger Marshall of Kansas back in March. The senators sought information on the relationship between the Binance exchange and its US affiliate, along with requesting various financial data. At the time, Binance had stated that the two entities were separate and emphasized its commitment to compliance. However, the SEC’s complaint suggests otherwise, further casting doubt on the exchange’s claims.
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Notably, this is not the first time concerns regarding the independence of Binance and Binance’s US arm came to light. State regulators in Texas had previously raised similar apprehensions about the relationship between the two entities.
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