Bitcoin News and Finance
DOJ Tells FBI and Others: ‘Stop Signing Appreciation Notes for Binance’ Skip to main content

DOJ Tells FBI and Others: ‘Stop Signing Appreciation Notes for Binance’

DOJ

The U.S. Department of Justice (DOJ) has requested federal agencies stop signing appreciation letters for Binance. The exchange used these letters as proof they are actively helping these agencies in criminal probes. However, this behavior seems to have bothered agents of these state organizations, who argue the exchange is bound to cooperate with these investigations by law.

DOJ, Says ‘No Thanks’ to Binance

Binance, the leading cryptocurrency exchange, seems to have fallen from grace with U.S. government agencies. The exchange normally requested appreciation notes regarding its cooperation with criminal probes. Now, according to two people with knowledge in the matter, the Department of Justice (DOJ) ordered the top law enforcement agencies to stop signing these thank-you notes.

Binance used these notes from the FBI and the IRS as public confirmation that it is a law-abiding company. But Binance is compelled by law to help these institutions in their probes. From the stance of the DOJ, Binance’s will to help has nothing to do with this fact, so the appreciation notes are unnecessary.

A Binance spokesperson told Bloomberg they:

Engage with regulators and law enforcement in a collaborative fashion to combat cybercrimes as part of our ongoing effort to help make the industry a better place. The letters we’ve received acknowledging our assistance speak for themselves.

Thank-You Notes Do Exist

In any case, law enforcement agencies have extended these notes to Binance before. Binance has shown several examples of these notes of appreciation from officials in the past. But some of them have very similar wording.

Robert Gonzalez, a detective with the California police department, said Binance sent a kind of template of these letters, but he made a few changes to it before signing it. Also, Gonzales stated to Bloomberg that Binance always collaborated with him in several forms.

The letters are unlikely to help Binance with the investigations agencies are organizing regarding the exchange. According to some sources, the DOJ and the IRS are probing Binance on money laundering and tax offense suspicions, and have been questioning Binance officers since last May. Binance has no offices in the U.S., and it established a separate company for its American customers, called Binance.us.

What do you think about these appreciation notes requested by Binance? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory