U.S. Senators Request Department of Justice Inquiry Into Binance Over Possible Legislative Lying

In a letter, two Democrats, including Sen. Elizabeth Warren, accuse the platform of possibly lying about Binance.US—Independent.

According to a Bloomberg story citing a letter from two Senate Democrats, the DOJ should look into allegations that crypto exchange Binance misled Congress about its business practices.

In a note to U.S. Attorney General Merrick Garland, Senators Elizabeth Warren and Chris Van Hollen stated that the cryptocurrency exchange may have made misleading assertions, especially about the legitimacy of its partner Binance.

ON MONDAY, the U.S. Securities and Exchange Commission filed a lawsuit against Binance and its CEO Changpeng “CZ” Zhao, accusing them of selling securities without registering them for public sale, mixing client money with company funds, and “secretly” running the company.

The MPs allegedly stated, “This is a serious matter,” in a letter sent out on Wednesday. In March, senators Warren and Hollen sent a letter to CZ and Binance.US, labelling the exchange a “hotbed of illegal financial activity” and demanding documents related to the company’s finances and anti-money laundering procedures.

“Mr. Zhao stated that Binance.US is a “fully separate business,” but in reality, he runs the company as a “de facto unit” of Binance,” a letter from March stated. When asked for comment, Binance waited to get back to us.

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