Splits between US Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world’s largest cryptocurrency exchange Binance, four people familiar with the matter have told Reuters.
The investigation began in 2018 and is focused on Binance’s compliance with US anti-money laundering laws and sanctions, these people said.
Some of the at least half dozen federal prosecutors involved in the case believe the evidence already gathered justifies moving aggressively against the exchange and filing criminal charges against individual executives including founder Changpeng Zhao, said two of the sources.
Through interviews with almost a dozen people familiar with the case, including current and former US law enforcement officials and ex-Binance advisors, along with a review of company records, Reuters has pieced together the most comprehensive account so far of how the investigation developed and how Binance has sought to keep it at bay. Prosecutors’ deliberations on charging Binance have not been previously reported.