BNB Down 4% After Company, CEO Targeted by US Prosecutors for Money Laundering
Binance's native coin, BNB, started this week dropping 5.1%, a movement that seems to reflect fear in the market with news that Binance is the target of a criminal investigation by the US Department of Justice (DOJ), which investigates whether the cryptocurrency exchange and its leaders violated anti-money laundering laws and violated sanctions imposed by the US government.
The Department of Justice also discussed potential court settlements with Binance’s lawyers. In a press release, Binance stated that regulators are conducting a “comprehensive review of all crypto companies concerning many similar issues.”
“This nascent industry has grown rapidly, and Binance has demonstrated its commitment to security and compliance by making major investments in its people, as well as the tools and technologies used to detect and prevent illicit activity,” the company stated.
Data shows that the BNB price is around US$ 275 this afternoon, slightly recovering after hitting the lowest price registered in three weeks this morning of US$ 273.
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BNB Down 4% After Company, CEO Targeted by US Prosecutors for Money Laundering
Binance's native coin, BNB, started this week dropping 5.1%, a movement that seems to reflect fear in the market with news that Binance is the target of a criminal investigation by the US Department of Justice (DOJ), which investigates whether the cryptocurrency exchange and its leaders violated anti-money laundering laws and violated sanctions imposed by the US government.
The Department of Justice also discussed potential court settlements with Binance’s lawyers. In a press release, Binance stated that regulators are conducting a “comprehensive review of all crypto companies concerning many similar issues.”
“This nascent industry has grown rapidly, and Binance has demonstrated its commitment to security and compliance by making major investments in its people, as well as the tools and technologies used to detect and prevent illicit activity,” the company stated.
Data shows that the BNB price is around US$ 275 this afternoon, slightly recovering after hitting the lowest price registered in three weeks this morning of US$ 273.