News According to a report on March 18, Binance’s response did not include the financial data requested. Bloomberg learned from an anonymous source that despite being omitted from the letter, the exchange sent the information to U.S. regulators.
In the 14-page document, Binance chief strategy officer Patrick Hillman dives into the exchange’s compliance history, recognizing previous mistakes and claiming the firm has built solid Know Your Customer and Anti-Money Laundering policies in the past years. The response, however, failed to address the senator’s concerns about Binance’s lack of transparency.
Hillman noted in the letter:
“Binance leverages both internal tools and tools from established third-party vendors to scan user transactions and profiles in real time […] between August 2021 and November 2022, Binance stopped over 54,000 transactions as a result of transaction monitoring alerts.”
On March 2, three U.S. senators led by Elizabeth Warren sent a letter to Binance CEO Changpeng “CZ”
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