Binance Leaks Spell Trouble with SEC, ‘Nuclear Fallout’
- Binance execs warned of a ânuclear falloutâ if US regulators crack down on the firm.
- Binance started Binance.US in an apparent effort to elude US regulators, leaks show.
- Leaked messages show close ties between Binance.US and its parent company.
Binance, the world’s largest crypto exchange, is facing potential trouble with the US Securities and Exchange Commission (SEC) after leaked messages demonstrate a plan to circumvent US regulators.
Binance executives warned of ânuclear falloutâ if US regulators looked into the exchange, leaked messages suggest.
According to the leaks in a report by The Wall Street Journal, the plan was to build a separate US platform, Binance.US. The US subsidiary would license Binaceâs technology and brand, but we are otherwise independent. More importantly, it would shield Binance from US regulators.
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