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Blumenthal Expresses Concern Over Binance AML Allegations
U.S. Senator Richard Blumenthal sent letters to federal agencies regarding allegations of inadequate anti-money laundering measures by Binance. The letters were addressed to the Justice Department and the Treasury's Financial Crimes Enforcement Network. This follows reports of potential issues in the cryptocurrency exchange's practices.
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U.S. Treasury’s Financial Crimes Enforcement Network.
the Allegations In the letters, Blumenthal said, “I am writing with concern over mounting allegations of dangerously lax anti-money laundering prevention by Binance.
” The report did not specify further details on the allegations or any responses from the agencies or Binance.
Binance operates as a major cryptocurrency exchange, and anti-money laundering regulations are enforced by U.
U.S. federal agencies to prevent financial crimes. Such concerns could lead to investigations into compliance practices in the cryptocurrency sector.
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