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Who is investigating Binance?

The Internal Revenue Service and the Department of Justice are investigating Binance, the world’s biggest cryptocurrency exchange company, according to Bloomberg. Officials who investigate money laundering and tax offenses are specifically investigating Binance, according to The Verge.

Why is the CFTC investigating Binance?

Binance’s troubles with regulators grow as U.S. authorities are now reportedly investigating the exchange for possible insider trading and market manipulation. The investigation involves the Commodity Futures Trading Commission (CFTC).

What is Binance coin?

[1/5] Representation of cryptocurrency Binance Coin, the native token of the cryptocurrency exchange, is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Binance says it has no insight into the "inner workings of the US Justice Department"

Could Binance be fined for not publishing investor prospectus?

The investigation comes after Germany’s financial regulator BaFin last month warned that Binance risked being fined for offering its securities-tracking digital tokens without publishing an investor prospectus. Bitcoin, the world’s largest cryptocurrency, dropped in value on news of the reported Binance probe.

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