{"id":20264,"date":"2023-06-08T23:57:08","date_gmt":"2023-06-09T03:57:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/us-sen-elizabeth-warren-says-binance-lied-to-congress-in-letter-to-doj-asking-for-an-investigation\/"},"modified":"2023-06-08T23:57:09","modified_gmt":"2023-06-09T03:57:09","slug":"us-sen-elizabeth-warren-says-binance-lied-to-congress-in-letter-to-doj-asking-for-an-investigation","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=20264","title":{"rendered":"US Sen. Elizabeth Warren Says Binance Lied to Congress in Letter to DOJ Asking for an Investigation"},"content":{"rendered":"<div>\n<p>Long-standing crypto skeptic Sen. Elizabeth Warren is asking US Department of Justice Attorney General Merrick Garland to investigate whether Binance lied to Congress.<\/p>\n<p>The Democrat from Massuchesetts and Sen. Chris Van Hollen, D-Md. said Binance may have violated the law when it told lawmakers that Binance and Binance.US were separate entities and that Binance.US prioritized regulatory compliance.\u00a0<\/p>\n<p>Those two issues were front and center regarding 13 charges brought by the US Securities and Exchange Commission this week.\u00a0<\/p>\n<p>The SEC said Binance and its CEO Changpeng Zhao secretly controlled Binance.US behind the scenes and also accused them of misleading investors about \u201cnon-existent\u201d trading controls\u201d on the US platform.\u00a0<\/p>\n<p>\u201cThis is a serious matter,\u201d the lawmakers <u>wrote<\/u> to Garland on June 7. \u201cIn this case, a bipartisan group of senators was seeking information on the cryptocurrency industry in order to inform an ongoing legislative process and determine whether new laws are needed to address the risks from cryptocurrencies and cryptocurrency exchanges \u2013 and it appears that Binance and Binance.US undermined this important investigation and the legislative process by providing false and misleading information to Congress.\u201d<\/p>\n<p>An investigation could result in fines and imprisonment, under federal law, Van Hollen and Warren argued.<\/p>\n<h2>The letter<\/h2>\n<p>The two wrote to Zhao, Binance and Binance.US in March to ask about the companies\u2019 structure, compliance with anti-money laundering and know-your-customer laws, as well as asking about the relationship between Binance and Binance.US.<\/p>\n<p>Binance, in a letter signed by now Binance Communications Officer Patrick Hillmann, he asserted that Binance and Binance.US were separate.\u00a0<\/p>\n<p>\u201cThough both Binance.com and Binance.US are ultimately owned by CZ and CZ is a board member of Binance.US, Binance.com and Binance.US are separate entities\u2014contrary to suggestions in public reporting. Binance.US is not a subsidiary of Binance,\u201d Hillman wrote in the letter.\u00a0<\/p>\n<p>Binance did not immediately respond to a request for comment.\u00a0<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/us-sen-elizabeth-warren-says-binance-lied-congress-letter-doj.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Long-standing crypto skeptic Sen. Elizabeth Warren is asking US Department of Justice Attorney General Merrick Garland to investigate whether Binance lied to Congress. The Democrat from Massuchesetts and Sen. Chris Van Hollen, D-Md. said Binance may have violated the law when it told lawmakers that Binance and Binance.US were separate entities and that Binance.US prioritized [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-20264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Sen. Elizabeth Warren Says Binance Lied to Congress in Letter to DOJ Asking for an Investigation | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Long-standing crypto skeptic Sen. 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