Binances Risky Move: Could Criminal Charges Be Imminent?

By Lola Coin Jun 24, 202370Views

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Former SEC official John Reed Stark has warned that Binance’s recent motion against the regulator could expedite criminal charges against the cryptocurrency exchange. In a tweet, Stark explained that Binance filed a motion asking the judge overseeing the SEC-Binance case to prevent the regulator’s attorneys from making public statements about the mishandling of customer assets. Stark believes that Binance’s motion could backfire and provoke criminal prosecutors to act against the exchange. He also noted that the SEC’s mention of a criminal investigation is unusual, suggesting that criminal action could be imminent. Stark further highlighted reports of Binance being investigated for alleged money laundering by French authorities. Earlier this month, Stark advised investors to exit crypto platforms due to increased regulatory scrutiny.

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