Binance, the world’s largest cryptocurrency exchange, is facing questions about its US partner’s regulatory compliance and finances. The exchange has partnered with BAM Trading Services, a San Francisco-based company, to launch its US-based platform, Binance.US.
The partnership has come under scrutiny after a report by The Block revealed that BAM Trading Services had failed to register with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB). This is a requirement for any company that deals with digital currency.
The report also revealed that BAM Trading Services had not filed any financial reports with the US Securities and Exchange Commission (SEC). This is a requirement for any company that deals with securities.
The report has raised questions about Binance’s compliance with US regulations. Binance has not responded to the report, but it has said that it is “committed to working with regulators and law enforcement to ensure compliance with applicable laws and regulations.”
Binance has also said that it is “working closely with BAM Trading Services to ensure that all applicable laws and regulations are followed.”
The report has also raised questions about BAM Trading Services’ finances. The company has not disclosed any financial information, and it is unclear how it is funded.
The report has prompted some to question whether BAM Trading Services is a legitimate business. The company has not responded to the report, but it has said that it is “committed to providing a secure and compliant platform for our customers.”
The report has also raised questions about Binance’s commitment to regulatory compliance. Binance has not responded to the report, but it has said that it is “committed to working with regulators and law enforcement to ensure compliance with applicable laws and regulations.”
The report has prompted some to question whether Binance is taking the necessary steps to ensure that its US-based platform is compliant with US regulations. Binance has not responded to the report, but it has said that it is “committed to providing a secure and compliant platform for our customers.”
The report has also raised questions about Binance’s commitment to transparency. Binance has not responded to the report, but it has said that it is “committed to providing a secure and transparent platform for our customers.”
The report has prompted some to question whether Binance is taking the necessary steps to ensure that its US-based platform is compliant with US regulations and is transparent about its operations. Binance has not responded to the report, but it has said that it is “committed to working with regulators and law enforcement to ensure compliance with applicable laws and regulations.”
The report has raised serious questions about Binance’s US partner’s regulatory compliance and finances. It remains to be seen how Binance will respond to the report and whether it will take the necessary steps to ensure that its US-based platform is compliant with US regulations and is transparent about its operations.
