![]() Binance.US has grown to become one of the largest U.S.-based digital asset trading platforms licensed and operating in almost all U.S. entity, Binance.US, in 2019, to establish a compliant platform for U.S. Consistent with this commitment to regulatory compliance-and contrary to public reporting based on outdated and incomplete information-Binance decided to launch a separate U.S. As a global company, Binance has prioritized local regulatory compliance as it has grown, including by obtaining regulatory approvals or operating licenses in many countries and regions around the world. Smart regulation will protect both consumers and markets, and still allow for innovation and the preservation of crypto’s fundamental value propositions of financial independence and empowerment.īinance supports the United States’ effort to look holistically at regulations and have a whole-of-government approach, rather than the current patchwork of laws. The three points are as follows:īinance has maintained that the best form of user protection is regulation. Given the focus of the Letter on regulation, compliance, and transparency, we begin with three overarching points on those topics, then move to a more in-depth discussion of the issues raised in the Letter. We appreciate the opportunity to dispel misconceptions created by certain media reports on Binance and to engage with you on the important matters you have raised. ![]() ![]() Your Letter cites several articles that are either incorrect or incomplete regarding (hereinafter “Binance” as opposed to Binance.US). We write in response to your letter dated March 1, 2023, relating to public reporting regarding Binance (the “Letter”). It has been reprinted here in its entirety in an effort to be more transparent in our dealings with regulators as well as to give an insight into some of the challenges facing crypto companies from the hallowed halls of government.ĭear Senators Warren, Van Hollen, and Marshall: The following is a copy of a letter sent to US Senators Warren, Van Hollen and Marshall.
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