Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds: Report

US Attorney's Office and Binance in heated showdown over money laundering allegations...

It's game on for the US attorney's office in Seattle as they take on cryptocurrency exchange Binance in a heated investigation of money laundering violations. Investment firms have been subpoenaed to hand over their communication records with Binance, as authorities work to get to the bottom of the case. But don't count Binance out just yet! They still have a chance to settle with the authorities and avoid charges. This investigation has been ongoing since 2018, when Binance was first suspected of illicit fund activity, including unlicensed money transmission and money laundering conspiracy. In a bid to clean up their act, Binance has joined the Association of Certified Sanctions Specialists (ACSS) and will be receiving some much-needed training. The exchange has also decided to join the Chamber of Digital Commerce, a crypto lobbying group, in an effort to clear its name and reputation after receiving criticism for being unregulated. Looks like Binance is really trying to coin a new image for itself. Read the full story here on Cointelegraph. Don't miss a beat in the world of crypto. Leverage the same AI technology that Cointelegraph's journalists use to surface the latest news with the NewsQuakes™ indicator that's only available on Markets Pro — learn more. Regards, Russell DeCorte Director © 2022 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2023 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.