According to a recent Reuters article, “at least“a half-dozen U.S. federal prosecutors are confident they have gathered enough evidence to bring criminal charges against Binance CEO Changpeng Zhao.
However, some prosecutors prefer to wait, arguing that more evidence is needed for such aggressive action. The conclusion of a major investigation into the largest stock exchange has been delayed for now, as there is no consensus among prosecutors.
The article, which cites anonymous sources, says Binance and its top executives could be accused of flouting anti-money laundering rules and allowing bad actors to escape sanctions.
U.S. prosecutors began investigating Binance in 2018 because of concerns about criminals using the exchange to launder ill-gotten funds.
According to a Reuters investigation that was conducted earlier this year, Binance reportedly handled billions of dollars in crypto dirt from criminals and sanctions evaders including Russian.
Binance’s team as expected, refuted the allegations described in the article, saying that its security and compliance team has increased its staff by 500%. In addition, the exchange says it is not familiar with the inner workings of the U.S. Department of Justice, although it has apparently hired former Money Laundering and Asset Recovery Section (MLARS) chief Kendall Day to talk with prosecutors.
According to Reuters, the Justice Department has been in discussions with Kendall Day about possible plea deals.