Prosecutors Split Over Charging Binance And Executives: Reuters

Story: Divya Sinha

U.S. Department of Justice prosecutors are divided whether they should move ahead with filing criminal charges against Binance and its executives, Reuters reported.

Binance came under investigation in 2018 for compliance with U.S. anti-money laundering laws and sanctions.

Some of the federal prosecutors involved in the case believe the evidence is sufficient to file charges against Binance and its top executives, including CEO CZ.

However, the source said that others have argued to take time to review more evidence.

Prosecutors from three Justice Department offices are involved in the investigation namely MLARS, the U.S. Attorney’s Office the National Cryptocurrency Enforcement Team.

For the hard-hit crypto sector, the stakes are high and if the investigation turns against Binance and Zhao, it could weaken Binance's grip on the industry.

Binance spokesperson said that they don’t have any insight into the inner workings of the US Justice Department.