This is not their first kind of cases with the government, Binance have been on several of this, though i don't think they may be able to win any case against each other because CZ himself has gone far with them altogether and they know what they are already missing if such could hold against Binance, this is more of a political threats and tussles, but those having their currencies on Binance should take heed and only allow the amount they can afford to loose there.
Another pressure against Binance, and this kind of case is tend to destabilized Binance, they are just creating issues and no case yet are being closed in favor of those who file the case. Well, CZ is well prepared for this and know how to handle such issues and I’m sure Binance will still be the top choice of many investors because of its good platform. The government are really trying to manipulate the market which I think is a normal scenario every time we see growth. 
Topic: Binance is reported by Senator Cynthia Lummis - page 2. (Read 301 times)
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Israeli law enforcement has seized more than 190 Binance accounts linked to Islamic terrorism between 2021-23.5
The fact that Hammas and other terrorist groups have been allowed by Binance to open accounts and conduct business
I underline that Binance moves globally and gives full rights to Binance users regardless of who they are, where they come from and investment is personal, right?The fact that Hammas and other terrorist groups have been allowed by Binance to open accounts and conduct business
Actually, someone created a topic on this thing, --> Can the government acquire all bitcoins either by seizure or purchase? as the title give the idea of what should be discussed in it, you will come to know the backstory which I just stated above, when you will read my reply in that topic.
Overall, this all is some kind of negative campaign against Binance and this is not new, Binance was being suppressed by many agencies and many cases has been opened against them but still, they are the strong players in the field and that's been proved several time, No doubt they have to leave the US field and some other but they are doing good.
Hmm, The Questionnaire on a platform for showing their complete finance is not new here, but the point to be considered is the current market sentiments, Traders and investors both are highly Bullish on the coming market momentum but from a couple of days I've been going through some topics Binance and Teather are getting targeted for their transparency. Can it be another market's leading hit and similarly a top-tier centralized exchange of industry?
It can be a big fud if some more negative developments happen in the same concept till now there's nothing much concerning but it can be a big move to stop the ETF approvals by again excusing the market's un-reliability after such a major fud. I'm highly Bullish on the coming momentum but most of the people are in FOMO making crazy entries they can face some hard time if any of such a scenario happens.
It can be a big fud if some more negative developments happen in the same concept till now there's nothing much concerning but it can be a big move to stop the ETF approvals by again excusing the market's un-reliability after such a major fud. I'm highly Bullish on the coming momentum but most of the people are in FOMO making crazy entries they can face some hard time if any of such a scenario happens.
Binance will simply comply and I know they will but for me this is just clearly a FUD again especially to those who was close to SBF and FTX. I don't think it was a coincidence that the lawsuit on timing when Bitcoin is making some moves. Tether has already released their statement and I couldn't agree more.
https://tether.to/en/tether-reinforces-stance-against-cryptos-terrorist-utilization-urges-governments-to-fact-check-mainstream-medias-misinterpretation-of-data/
Binance is different than FTX. At least they proceed billions of user withdrawals smoothly and their exchange did not collapse after a few days like FTX because of insolvency. I don't know what will happen with Binance in future but based on the past, they are better than FTX.https://tether.to/en/tether-reinforces-stance-against-cryptos-terrorist-utilization-urges-governments-to-fact-check-mainstream-medias-misinterpretation-of-data/
They will surely comply with regulations if they want to keep their business running and I really believe they will not want to shut down their profitable business. Comply with governments and get more money from business operation is good enough for Binance.
The lawsuit from the Senator is not like FTX case.
This is not their first kind of cases with the government, Binance have been on several of this, though i don't think they may be able to win any case against each other because CZ himself has gone far with them altogether and they know what they are already missing if such could hold against Binance, this is more of a political threats and tussles, but those having their currencies on Binance should take heed and only allow the amount they can afford to loose there.
that's the accusation that the senator dropped for binance and has been reported,
what do you think?
Binance will simply comply and I know they will but for me this is just clearly a FUD again especially to those who was close to SBF and FTX. I don't think it was a coincidence that the lawsuit on timing when Bitcoin is making some moves. Tether has already released their statement and I couldn't agree more.what do you think?
https://tether.to/en/tether-reinforces-stance-against-cryptos-terrorist-utilization-urges-governments-to-fact-check-mainstream-medias-misinterpretation-of-data/
The lawsuit was brought because the ceasefire between Israel and Hamas was brokered by Binance.
that's the accusation that the senator dropped for binance and has been reported,
I did not a full document of the lawsuit and only what you quoted, that are points you want to discuss. From those points, I can say, in my opinion, the lawsuit means non sense.that's the accusation that the senator dropped for binance and has been reported,
It happens with all centralized exchanges, decentralized exchanges and stable coins or more expansion all cryptocurrencies. So why the Senator attacked only Binance and Tether companies?
First it is not a fair lawsuit case. Second, I don't see valid points to support the Senator to win the lawsuit against Binance and Tether companies.
They can have preventive layers to prevent or reduce money laundering as part of their AML procedure but they can not block all illegal money comes to their platforms. In the USA., their governments can not control guns and Gun Violence Archives still occur. So if they want to borrow that there are holes in Binance and Tether companies for dark money to come in for money laundering, to shut down those companies or with strict punishments, they are playing a dirty game.
binance was sued not only this time, before that I found this thread Topic: Binance Exchanger - U.S. Senators sends letter to showcase proper Finance in their letter, The senators ended their letter by requesting "documents and answers" related to the list of questions by March 16. The documents requested by the lawmakers include "full copies of all balance sheets of Binance and Binance subsidiaries from 2017 to the present," and their internal anti-money laundering (AML), countering the financing of terrorism (CFT), and know your customer (KYC) policies and procedures.
Most recently, I found that,complete lawsuit
The lawsuit was brought because the ceasefire between Israel and Hamas was brokered by Binance.
complete lawsuit letter
Most recently, I found that,complete lawsuit
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Subject: Binance and Tether Prohibited Financial Activity
Dear Attorney General Garland,
We are writing to you in light of shocking reports that unregulated and centralized crypto asset intermediaries based outside of the United States have facilitated significant illicit financial activity over the past two years, including providing significant terrorism funding for Hamas's malicious attacks against Israel." The lawsuit in the Binance and Tether lawsuit states that Binance and Tether are the largest crypto asset intermediaries in the United States.
Dear Attorney General Garland,
We are writing to you in light of shocking reports that unregulated and centralized crypto asset intermediaries based outside of the United States have facilitated significant illicit financial activity over the past two years, including providing significant terrorism funding for Hamas's malicious attacks against Israel." The lawsuit in the Binance and Tether lawsuit states that Binance and Tether are the largest crypto asset intermediaries in the United States.
The lawsuit was brought because the ceasefire between Israel and Hamas was brokered by Binance.
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Binance has historically been associated with illicit activity and is purportedly the subject of a current Department of Justice investigation. As of October 16, 2023,
Quote
Israeli law enforcement has seized more than 190 Binance accounts linked to Islamic terrorism between 2021-23.5
The fact that Hammas and other terrorist groups have been allowed by Binance to open accounts and conduct business
I underline that Binance moves globally and gives full rights to Binance users regardless of who they are, where they come from and investment is personal, right?The fact that Hammas and other terrorist groups have been allowed by Binance to open accounts and conduct business
Quote
It has been found that Tether knowingly facilitated violations of applicable sanctions laws and the Bank Secrecy Act¹2 by not conducting adequate due diligence and customer screening despite knowing that its products were being used to facilitate terrorism and other prohibited activities
complete lawsuit letter
- that's the accusation that the senator dropped for binance and has been reported,
what do you think?
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