Why does Binance get to enjoy all the legal benefits of being a corporation, and all the benefits of trading cryptocurrency, and none of the downsides of either?
this post was submitted on 11 Aug 2026
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They were prosecuted for money laundering.
https://www.bbc.com/news/technology-68930465
The problem is that the legal punishment was too mild. The CEO spent 4 months in a luxury prison for white collar criminals. Basically a social club for the rich.
So now he is doing the same thing all over again.
If i robbed a watermelon on the local supermarket i would get more prison time than that. The US legal system is a joke
Law enforcement shouldn't become too convenient ("The company built a staff of hundreds of compliance officers, many of them veterans of U.S. and European law enforcement agencies. The police could often get information about accounts far faster from Binance than they could from banks."), but equally not be excessively hindered by procedures or cronyist governments ("[...] unable to obtain account records from some Binance users based in the United Arab Emirates. [...] certain information requests flow through the Emirati government [...] conflict of interest, because the investment firm MGX is funded by Abu Dhabi royals."); so I'm quite mixed on the change of direction.
It might be positive for legitimate users of the platform (which are less likely to be investigated, let alone receive specialty-treatment), but simultaneously protect Trump's crypto-scamming inner circle, alongside other high-value targets.
🅱️inance