Binance.us says you tried to stop Gary Gensler in early days

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Von: Krypto News Österreich

Im Wall Street Journal ist ein neuer Bericht aufgetaucht, der die Insider-Kommunikation zwischen Mitgliedern von Binance und Binance US skizziert. Darüber hinaus wird in den Botschaften erörtert, wie man am besten mit der Regulierungsaufsicht umgeht, was ein wichtiger Punkt von Interesse für jedes Unternehmen ist, das Geschäfte in den Vereinigten Staaten tätigen möchte. Der Bericht weist jedoch darauf hin, dass die frühen Tage von Binance möglicherweise mit den für Dotcom-Startups typischen Problemen behaftet waren. Weniger kleinteilig als bisher angenommen Binance.US wurde kurz nach Binance gegründet, mit dem Ziel, die Geschäftsverfahren, die für die Einhaltung der US-Aufsichtsbehörden erforderlich sind, von denen …
A new report has appeared in Wall Street Journal that outlines the insider communication between members of Binance and Binance US. In addition, the messages are discussed how best to deal with the regulatory supervision, which is an important point of interest for every company who wants to do business in the United States. However, the report points out that Binance's early days may have been affected by the problems typical of Dotcom startups. Less small-scale than previously assumed. Us was founded shortly after Binance, with the aim of the business procedures that are necessary for compliance with the US supervisory authorities, of which ... (Symbolbild/KNAT)

in Wall Street Journal has a new report that outlines the insider communication between members of Binance and Binance US.

In addition, the messages are discussed in the embassies how to best deal with the regulatory supervision, which is an important point of interest for every company who wants to do business in the United States. However, the report points out that the early days of Binance may have been affected by the problems typical of Dotcom startups.

less small -scale than previously assumed

binance. Us was founded shortly after Binance, with the aim of separating the business procedures that are necessary for compliance with the US supervisory authorities from those that apply to the rest of the world. If the US supervisory authorities could regulate Binance, such rules would have been imposed on the offers of the platforms worldwide. For example, derivatives would have been off the table because companies that they offer in the USA fall into the area of ​​responsibility of the Sec.

According to news, according to news that was viewed by WSJ reporters, this division was not so strict in their early days. For example, the software from Binance.Us seems to have been serviced by the Binance team, including incidents in which updates were accidentally transferred to the live platform by the global employees.

Further reports indicated that at least part of the budget by Binance.Us von Binance was monitored - as well as certain areas of process management as well as inquiries about reports on weekly tasks. In addition, the employees of the two companies also met at team building events. Although there is basically nothing wrong, this could indicate that the coordination between the two was more extensive than previously assumed.

Gary Gensler approached an advisory position

Another interesting fact is that the current SEC chairman Gary Gensler was already addressed in 2018 with a preliminary position in an advisory function when he was still a professor at the MIT. This was further confirmed in a Twitter-Live held by CZ.

live during a Twitter space, @cz_binance :

> now has 5 suits (did not sound very convincing?)
> Binance works with people in over 180 countries -> happy to have built up something meaningful
> The community has helped a lot
> He does not often go to the office in Dubai pic.twitter.com/ylQrlig1yx

- Official cryptopotato (@Crypto_potato) 3. March 2023

Although Gensler rejected the offer, he reported that he said some warm advice from professional courtesy, as you stick to the US authorities.

A spokesman for Binance went into the allegations and admitted that the compliance procedures were unfortunately not so rigid in the early days of the platforms due to inexperience. However, the spokesman also emphasized that this problem had long been fixed.

"We acknowledge that we did not have adequate compliance and controls in these early years. We are a completely different company today when it comes to compliance. […] Binance. Us was specially founded to offer US customers products and services that meet the US rules and regulations."

In addition, the spokesman emphasized that in contrast to FTX or other companies, neither Binance nor Binance. Us ever mixed user funds with funds that are required for daily operation.

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