US Senators Ask Binance to Provide Financial Data

Elizabeth Warren, joined by fellow senators Chris Van Hollen and Roger Marshall, have sent a letter to the management of the crypto exchange Binance demanding the release of financial data.

Warren, an advocate for strict cryptocurrency regulation, believes the only way to protect investors is to introduce a regulatory framework for the industry.

The letter alleges that certain countries are attempting to bypass US sanctions with digital currencies and the services of crypto exchanges, with data showing that criminal proceeds from virtual currencies have exceeded $10 billion.

Binance and its US affiliate Binance.US are required to provide information from 2017 concerning their available reserves and compliance with anti-money laundering laws, as well as to make the same information public for all other subsidiaries of the world’s largest crypto exchange.