Crypto NewsAltcoinBinance Allegedly Operating Covertly in China!

Binance Allegedly Operating Covertly in China!

The FT claimed that Binance deliberately hid its links with China.

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Following the lawsuit filed by the US regulator CFTC against Binance and its CEO, CZ, new allegations came from the Financial Times against Binance and CZ.

The FT claimed in today's news that Binance and CZ deliberately hid their ties to China for years.

According to the report, senior executives including CZ instructed employees in China to hide their presence in the country.

Reaching the internal correspondence, FT stated that the employees talked about a news claiming that Binance opened an office in Beijing in 2019, and then they received the following message.

"Reminder: We publicly have offices in Malta, Singapore and Uganda. Please do not confirm offices anywhere else, including China."

Citing Binance's internal documents, the FT said that the office in China was in use until 2019, and that the company used a Chinese bank to pay employees' salaries.

In response to the FT's claims, CZ previously stated that Binance left China after China banned cryptocurrency exchanges in 2017.

A Binance spokesperson told the FT:

“It is unfortunate that anonymous sources refer to ancient histories and significantly misidentify events.

These descriptions do not provide an accurate picture for Binance. Because Binance does not operate in China or have any servers in the country.

To be clear, the Chinese government, like other governments, does not have access to Binance data except when we respond to lawful and legitimate law enforcement requests."

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