Adam had the news posted overnight that Binance is facing investigations from the Justice Department and the IRS.
At this stage its an investigation only, the exchange has not been accused of wrongdoing:
- money laundering
- tax offences
An Achilles heel for the acceptance of crypto generally is its role in facilitating criminal activity payments. Indeed, it appears Colonial Pipeline paid hackers circa $5m in crypto re the network failure this week. Crypto defenders point out that plenty of fiat currency is used in criminal activities also. Which is true.