According to the report, U.S. Department of Justice (DoJ) prosecutors are willing to charge cryptocurrency exchange Binance with fraud. However, they are afraid of the cost to customers.
The report warns that people are familiar with this situation, and a fraud charge against Binance from DoJ officials may cause a run on the exchange. In November 2022, a similar thing happened with FTX in the crypto market.
To lessen the consumer’s harm, they should consider other options, like fines or non-prosecution for Binance, rather than an indictment. By doing so, that outcome would be compromised, and Binance would be responsible for alleged criminal behavior.
Also Read: U.S. DoJ Investigates Binance for Violating Russian Sanctions
