reveal that Binance had a local office in China, where it instructed employees to attend tax sessions in order to avoid detection from authorities. It also reportedly used a local bank to pay salaries, and had a partnership with a crypto investment firm in the country.
Binance Denies Allegations, Claims Misrepresentation of the Truth
Binance responded to the allegations with a statement denying any wrongdoing. It claims that the documents were taken out of context and misrepresent the truth, and that the company has always been transparent and compliant with all applicable laws and regulations.
The leaked documents have raised serious questions about Binance’s involvement with Chinese authorities, and its ability to operate within the law. It remains to be seen how this story will develop, and if Binance will be able to maintain its good standing in the industry.
• The Financial Times has uncovered documents that allegedly reveal a much closer relationship between Binance and Chinese authorities than previously thought. • The documents reportedly show that the exchange…