CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-05-13 17:12:24

Binance reported to be focus of Justice Department, IRS probe - Bloomberg

The U.S. Department of Justice and the Internal Revenue Services is reportedly investigating Binance Holdings, the world's largest cryptocurrency exchange, according to Bloomberg.That follows a Commodities Futures Trading Commission investigation, reported in March, into concerns that it allowed U.S. investors to make trades that violated U.S. rules, which Bloomberg reported at the time.The cryptocurrency market, in general, has attracted attention from regulators as digital currency has been reportedly used for illicit activity and money laundering.Crypto, already under pressure after Elon Musk attacked bitcoin on mining energy use, remains suppressed.Bitcoin (BTC-USD) falls 13% to $48.2K, Binance Coin (BNB-USD) drops 12% to $565, ethereum (ETH-USD) -12% to $3,646.The usual crypto stocks fall as well — Grayscale Bitcoin Trust ([[GBTC]] -11.8%), Riot Blockchain ([[RIOT]] -18.2%), SOS Ltd ([[SOS]] -6.9%), MicroStrategy ([[MSTR]] -8.9%), and Coinbase ([[COIN]] -6.8%).

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.