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Warren, Van Hollen Request DOJ Investigation of Crypto Exchange Binance's Potentially False Statements to Congress

Press Release

Date: June 8, 2023
Location: Washington, D.C.
Issues: Technology and Communication Executive Branch Finance and Banking

"In short, Binance and Binance.US made two representations to Congress: that Binance and Binance.US were "separate entities,' and that Binance.US "prioritized regulatory compliance' and had "best-in-class compliance function.' If the allegations in the SEC filing are accurate, then it would appear that neither of these claims are true.

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This is a serious matter. In 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 -- and it appears that Binance and Binance.US undermined this important investigation and the legislative process by providing false and misleading information to Congress. These actions by Binance and Binance.US represent a potential violation of federal law that may subject company officials to fines and imprisonment, and the Department should, in conjunction with the ongoing SEC complaint, conduct a rapid and thorough investigation of this matter."


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