Binance issued a statement on Nov. 21 regarding its resolution of investigations from the U.S. Department of Justice (DOJ) and other agencies.
There, Binance stated that it is pleased to announce the resolution and admitted to past wrongdoing. The crypto exchange company said:
“When Binance first launched, it did not have compliance controls adequate for the company that it was quickly becoming … Binance made misguided decisions along the way. Today, Binance takes responsibility for this past chapter.”
The company said that the current resolutions acknowledge its role in “historical, criminal compliance violations” and allow it to “turn the page.”
Binance emphasized that the U.S. agencies do not allege that it misappropriated user funds or engaged in market manipulation. In that regard, it mentioned its other promises, such as its 1:1 backing of user assets, its commitment to allowing 100% withdrawals at all times, and transparency around its own crypto addresses.
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