Binance was asked to submit internal documents relating to the firm’s actions to ensure anti-money laundering by the end of 2020. The investigation was first reported last year, but little information was available until now.
The crypto exchange was asked to turn over messages from CEO Changpeng Zhao and 12 other executives, including information about the exchange’s detection of illegal transactions. It also demanded that any company records be “deleted, altered, or removed from Binance’s files” or “transferred from the United States.” According to Reuters, gaps in Binance’s compliance programme allowed criminals to launder at least $2.35 billion in illicit funds through the exchange, which also served Iranian traders despite US sanctions.
