Binance’s proximity to its collapsed competitor FTX has given federal prosecutors reason to seek new information in their 4-year-old investigation into the world’s largest crypto exchange. Over the past few months, U.S. attorneys in Seattle have been asking financial firms to hand over records of communication with Binance, according to a weekend Washington Post report. The newspaper cites two anonymous sources who have reviewed the subpoenas. The investigation involves the justice department’s money laundering team, the U.S. Attorney’s Office in Seattle, and the National Cryptocurrency Enforcement Team, according to a December report by Reuters. In fact, the Binance investigation itself predates the creation of the justice department’s crypto enforcement team, which was formed in 2021 and got a new director, Eun Young Choi, last February. “As has been reported widely, regulators are doing a sweeping review of the entire crypto industry against many of the same issues,” a Binance spokesperson tells Decrypt. “This nascent industry has grown quickly and Binance has shown its commitment to security and compliance through large investments in our team as well as the tools and technology we use to detect and deter illicit activity.” The Department of Justice did not immediately respond to a request for comment from Decrypt.
Full report : What You Need to Know About the Federal Probe Into Binance.
