- Binance set out to elude U.S. authorities by building a bare-bones American platform, Binance.US, that would license Binance’s technology and brand but appear to be independent.
- Binance.US registered with the U.S. Treasury’s Financial Crimes Enforcement Network as a money-services business.
- Binance has been in the crosshairs of some other countries, where it has been accused of operating without a license.
- The SEC and the Justice Department have been probing the relationship of Binance, which lists no headquarters, to Binance.US at least since 2020.
- Binance developers in China maintained the software code supporting Binance.US users’ digital wallets, potentially giving Binance access to U.S. customer data.
WSJ — Markets — Cryptocurrencies — Monetary Policy — Investment — Legal
Texts From Crypto Giant Binance Reveal Plan to Elude U.S. Authorities
Crypto giant Binance set out to elude U.S. authorities by building a bare-bones American platform to license its technology and brand. The SEC and Justice Department are probing the relationship of Binance to Binance.US. Binance developers in China maintained the software code supporting Binance.US