Binance Once Planned to Evade US Scrutiny, New Texts and Documents Confirm

Amid the major fallout of several firms in the crypto space last year, the U.S. Securities and Exchange Commission (SEC) has increased its scrutiny in the crypto space.

The latest report from Wall Street Journal on Sunday, March 5, shows that the world’s largest crypto exchange Binance once devised a plan to avoid any regulatory scrutiny in the United States.

The WSJ report states that any lawsuit from the U.S. regulators, who had signaled a crackdown on unregulated offshore crypto players, might have served as a “nuclear fallout” for Binance’s business and its officers.

The WSJ report cites warnings initiated by Binance executives to their employees in a private chat back in 2019.

As per the documents, Binance planned to neutralize U.S. authorities. Citing the internal documents, the publication reported.

Before investing in cryptocurrency or indulging in any crypto affair, contact a cryptocurrency development company beforehand!