{"id":552558,"date":"2023-02-16T07:44:37","date_gmt":"2023-02-16T04:44:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-readies-checkbook-for-potential-fines-from-us-regulators-report\/"},"modified":"2023-02-16T07:44:37","modified_gmt":"2023-02-16T04:44:37","slug":"binance-readies-checkbook-for-potential-fines-from-us-regulators-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-readies-checkbook-for-potential-fines-from-us-regulators-report\/","title":{"rendered":"# Binance readies checkbook for potential fines from US regulators: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a22becd0c917\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a22becd0c917\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-readies-checkbook-for-potential-fines-from-us-regulators-report\/#%E2%80%9D_Binance_readies_checkbook_for_potential_fines_from_US_regulators_Report_%E2%80%9C\" >&#8221; Binance readies checkbook for potential fines from US regulators: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_readies_checkbook_for_potential_fines_from_US_regulators_Report_%E2%80%9C\"><\/span>&#8221; Binance readies checkbook for potential fines from US regulators: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvNDhlOTZkNzYtYjI5ZS00MWFhLWE4ZGMtYzg0ZDg4N2Q3YjFmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-71a7a826>The world\u2019s largest digital asset exchange, Binance, is preparing to face fines and penalties in order to settle outstanding regulatory and law-enforcement investigations in the United States.<\/p>\n<p>According to a Feb. 15 WSJ<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/crypto-giant-binance-expects-to-pay-penalties-to-resolve-u-s-investigations-f1e3c9d2\"> report<\/a> that cited the firm\u2019s chief strategy officer, Patrick Hillmann, Binance has been working with regulators to remedy past compliance issues.<\/p>\n<p>Hillmann stated that Binance is \u201cworking with regulators to figure out what are the re<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tions we have to go through now to make amends for that.\u201d <\/p>\n<p>He added that the outcome of ongoing investigations will likely be fines but could be more, stating \u201cthat is for regulators to decide.\u201d<\/p>\n<p>Binance has been subject to several investigations in the U.S. including one which began in 2018 by the Department of Justice over potential violations of anti-money-laundering laws.<\/p>\n<p>In March 2021, the Commodity Futures Trading Commission also probed whether the company offered crypto derivatives to U.S. customers without registering with the agency.<\/p>\n<p>The Securities and Exchange Commission also launched a probe into Binance\u2019s U.S. division last February, regarding trading firms connected to CEO Changpeng Zhao.<\/p>\n<p>Hillmann added that Binance was \u201chighly confident and feeling really good about where those discussions are going,\u201d but couldn\u2019t put a figure on the size of the fines or a timescale for resolution with U.S. regulators. <\/p>\n<p>He said the lack of clarity for crypto in America made it a \u201cvery confusing time for us.\u201d<\/p>\n<p>The SEC has recently ramped up what industry observers call a \u201cwar on crypto\u201d \u2014 which <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to target certain staking services and stablecoins which it has deemed as falling under securities laws.<\/p>\n<p>Referring to the recent enforcement activity, the Binance executive said it \u201cwould have a really deep and long-lasting chilling effect in the United States.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bad day for Binance with SEC investigation and Reuters expos\u00e9<\/em><\/strong><\/p>\n<p>Earlier this week, New York regulators cracked down on Paxos, preventing it from issuing more of the Binance-branded stablecoin BUSD.<\/p>\n<p>Last week, U.S. crypto exchange Kraken was hit with a $30 million fine and ordered to halt its staking services following SEC enforcement action.<\/p>\n<p>Patrick Hillmann concluded that resolving issues with U.S. regulators would be good for the firm and its future.<\/p>\n<blockquote><p>\u201cIt will be a good moment for our company because it allows us to put it behind us.\u201d <\/p><\/blockquote>\n<p>Binance declined to offer any additional comments on the matter.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-readies-checkbook-for-potential-fines-from-us-regulators-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance readies checkbook for potential fines from US regulators: Report &#8220; The world\u2019s largest digital asset exchange, Binance, is preparing to face fines and penalties in order to settle outstanding regulatory and law-enforcement investigations in the United States. According to a Feb. 15 WSJ report that cited the firm\u2019s chief strategy officer, Patrick Hillmann,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":552559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/48e96d76-b29e-41aa-a8dc-c84d887d7b1f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75422,74898,71391,70934],"class_list":["post-552558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cftc","tag-sec","tag-department-of-justice","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=552558"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/552559"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=552558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=552558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=552558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}