Binance Investigated By U.S. Authorities

The world’s largest cryptocurrency exchange, Binance, is under investigation by the U.S. Department of Justice and Internal Revenue Service (IRS), according to a report from Bloomberg.

“As part of the inquiry, officials who probe money laundering and tax offenses have sought information from individuals with insight into Binance’s business,” per the report. “Chainalysis Inc., a blockchain forensics firm whose clients include U.S. federal agencies, concluded last year that among transactions that it examined, more funds tied to criminal activity flowed through Binance than any other crypto exchange.”

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