DOJ reportedly considering fraud charges against Binance, weighing impact on customers Binance DepartmentofJustice SecuritiesandExchangeCommission
- The U.S. Department of Justice is reportedly considering filing fraud charges against Binance, the largest cryptocurrency exchange in the world, but has concerns about the effect the move would have on customers.
In lieu of fraud charges, prosecutors are also considering other options, such as fines and deferred or non-prosecution agreements, they said. This would be a compromise that holds Binance responsible for their alleged criminal behavior while also mitigating any potential harm to consumers. Binance submitted a request for dismissal of the CFTC lawsuit on Friday, saying the CFTC exceeded its regulatory authority and engaged in regulatory overreach when it filed the lawsuit alleging the exchange broke U.S. trading and derivatives rules.
The exchange said that following its announcement, no new users residing in the Netherlands will be able to register, and existing Dutch resident users will only be able to withdraw assets from the platform.
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