Binance may have lied to US lawmakers, argue senators: Report

Binance May Have Lied To US Lawmakers

A recent report from US senators suggests that Binance, a major cryptocurrency exchange, may have lied to US lawmakers. The senators allege that Binance misled US lawmakers about its operations in the US and its relationship with the Chinese government.

The senators claim that Binance failed to disclose to US lawmakers the extent of its operations in the US and its relationship with the Chinese government. The senators further allege that Binance misled US lawmakers by claiming that it had no operations in the US when, in fact, it had been operating in the US since 2018.

The senators also claim that Binance misled US lawmakers by claiming that it had no relationship with the Chinese government when, in fact, it had been working with Chinese government-owned entities since 2018. The senators also allege that Binance failed to disclose to US lawmakers that it had been using Chinese government-owned entities to facilitate its operations in the US.

The senators argue that Binance’s alleged misrepresentations to US lawmakers are concerning and could have serious implications for the US cryptocurrency industry. The senators have called for further investigation into Binance’s activities in the US and its relationship with the Chinese government.

Senators’ Report

On June 3, 2021, US senators released a report detailing their findings regarding Binance’s operations in the US and its relationship with the Chinese government. The report claims that Binance misled US lawmakers about its US operations and its relationship with the Chinese government.

The report states that Binance had misled US lawmakers by claiming that it had no presence in the US, when in fact it had been operating in the US since 2018. The report also claims that Binance had failed to disclose its relationship with the Chinese government, which it had been actively engaged in since 2019.

The report further claims that Binance had been providing services to US customers without registering with the US Securities and Exchange Commission (SEC). This, the report states, is in violation of US securities laws.

The report also claims that Binance had been providing services to Chinese customers without registering with the Chinese government. This, the report states, is in violation of Chinese securities laws.

The report concludes that Binance had misled US lawmakers and had failed to comply with US and Chinese securities laws.

Binance’s Response

Binance has responded to the report, claiming that the report is inaccurate and that the company has complied with all applicable laws and regulations in the US.

Binance has also stated that it has never been contacted by US lawmakers regarding its operations in the US or its relationship with the Chinese government.