Senators said on June 8 that the US Justice Department should investigate previous statements made by Binance and take action if necessary.
Democratic Senators Elizabeth Warren and Chris Van Hollen alleged that Binance and Binance.US made false statements to Congress in a March 2023 letter.
At the time, Binance said its global and US businesses are separate entities and Binance.US is highly compliant with regulations.
Senators Say Binance ‘Subverted’ Process
However, senators said these statements are not true in light of the new charges brought by the US Securities and Exchange Commission (SEC) against Binance and related parties. In particular, that case details Binance CEO Changpeng Zhao’s alleged role in helping U.S. customers circumvent geographic blockades — a fact cited by senators today.
Senators said Binance’s seemingly unfair response is critical because bipartisan regulators originally sought information that would inform the introduction of new laws. Binance and Binance “undermined this process,” senators said.
DOJ may impose fines and jail time
Senators claimed that Binance and Binance.US’s statements could violate federal law and allow the DOJ to impose fines and prison sentences on executives.
Zhao and many other Binance executives are not US citizens and as such it is unclear to what extent the DOJ can take action against those individuals.
The post Elizabeth Warren Asks DOJ To Investigate Binance’s Statements To Congress appeared first on CryptoSlate.
