Binance Is a ‘Hotbed’ of Illegal Activity, Bipartisan US Senators Allege
- Letter says FTX collapse shows need for “real transparency”
- Senators request detailed data including balance sheets
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US Senators representing both Democrats and Republicans are demanding that Binance and Binance.US provide a detailed accounting of their finances and efforts to maintain regulatory compliance, according to a letter signed by Senators Elizabeth Warren, Chris Van Hollen and Roger Marshall.
“[What] little information about Binance’s finances is available to the public suggests that the exchange is a hotbed of illegal financial activity that has facilitated over $10 billion in payments to criminals and sanctions evaders,” the senators wrote in the letter, which was dated March 1.