Reportedly, the US DOJ was planning to file a lawsuit against crypto exchange Binance.
Binance is a top-ranked crypto exchange, thanks to its highly secured crypto services. 2023 brought huge numbers of legal hurdles in various jurisdictions for this crypto exchange. A few months ago, the US Securities Exchange Commission (SEC) sued BinanceUS & Binance global exchange. At the moment, only a limited service of this exchange is available in the US and that is not enough for this platform to survive.
On August 2, 2023, some media reports claimed that the US Department of Justice was planning to file fraud charges against the crypto exchange Binance, but it was later suggested not to take this step as it would create a very bad situation for the crypto sector and also for can result in the very bad financial position of this exchange just like FTX crypto Exchange.
Thus, there is a good chance that the US Department of Justice will impose fines in the form of a fine for violation of various laws in the US jurisdiction.
Some crypto Twitter users claimed that such media reports are based on assumptions and no truth or fact supporting such claims.
A crypto Twitter user claimed that US government agencies will never care about the future of the crypto sector as they have only tried to put negative pressure on the crypto sector multiple times in the past.
Following this news, the trading price of the majority of flagship crypto assets fell badly.
Due to this news, the trading price of the Binance coin (BNB) fell by 3.8% in a few hours but later recovered once people realized that US DOJ officials are not in the mood to take very strict measures against the crypto exchange.
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