Binance Faces Accusations of False Reporting In Ireland and Malta
European Union regulators have expressed concerns that Binance may be engaging in illicit activities such as money laundering and tax evasion. These concerns have been raised due to its operations within Ireland and Malta being particularly difficult to track, despite claiming to employ dozens of employees. Revenue streams are unexplained or explained by “consultancy services” according to official records, and the companies don’t have an active and operational space other than their registered address — which are shared with other companies.
Binance has been accused of commingling funds from revenue streams of different countries to avoid raising the eyebrows of regulators and tax authorities. European investigators have stated that BNB may be faking its accounts and operations in several EU jurisdictions. There are concerns that Binance is obfuscating illicit activity, which is why financial regulators in several EU jurisdictions received requests for information on BNB by the Securities and Exchange Commission (SEC) even before the agency charged the crypto exchange earlier this month. In some cases, officials believe BNB is inflating registered employee headcounts by conflating the figure with contractual services to freelancers, whose job is mainly of a promotional nature.
Source
https://t.me/Crypto_Futures_Trading
