{"id":1991015,"date":"2023-08-04T14:02:01","date_gmt":"2023-08-04T18:02:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doj-officials-hesitant-to-prosecute-binance-for-fear-of-crypto-exchange-run\/"},"modified":"2023-08-04T14:03:28","modified_gmt":"2023-08-04T18:03:28","slug":"doj-officials-hesitant-to-prosecute-binance-for-fear-of-crypto-exchange-run","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doj-officials-hesitant-to-prosecute-binance-for-fear-of-crypto-exchange-run\/","title":{"rendered":"DOJ officials reluctant to charge Binance, fearing potential crypto exchange panic."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdoj-officials-hesitant-to-prosecute-binance-for-fear-of-crypto-exchange-run%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1991015&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Officials from \u200bthe Department of Justice Considering Fraud Charges Against Binance<\/h2>\n<p>Exciting news in the world of cryptocurrency! Officials from\u200c the Department of Justice are currently mulling over the\u2063 possibility\u2063 of charging the major cryptocurrency exchange, Binance, \u2062with fraud. However, they are facing a dilemma. They fear \u2063that \u2064such \u200dcharges could trigger a\u200d run on the exchange, potentially costing consumers a significant amount of money.<\/p>\n<p>The prosecutors are taking a cautious approach, drawing lessons from\u2062 the recent case involving FTX. They are exploring \u2062alternative options, \u2062such\u2064 as imposing\u2064 fines or entering into deferred or\u2062 nonprosecution agreements. This compromise would hold Binance accountable for any criminal conduct while minimizing harm to consumers. It seems that Binance has\u2062 reached a point where it \u200dis considered &#8220;too big to fail&#8221; or prosecute.<\/p>\n<h2>Slowing \u200dEmployment Growth:\u200d 187,000 Jobs Added\u2063 in July<\/h2>\n<p>Shifting gears, let&#8217;s talk about \u2062the state of employment. Unfortunately, the\u2064 growth rate is slowing down. In July, only 187,000 jobs were added. This raises concerns and prompts regulators \u2062to \u2064navigate the complex task of regulating the cryptocurrency industry.<\/p>\n<p>The\u2064 cryptocurrency industry operates in a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-purges-trump-appointees-from-fixed-term-government-boards-in-unprecedented-departure-from-norms\/\" title=\"Biden Purges Trump Appointees From Fixed-Term Government Boards In \u2018Unprecedented\u2019 Departure From Norms\">legal gray area<\/a>,\u200c with\u2063 fewer \u2062restrictions compared to traditional investments. Regulators\u200b must find the best\u2064 approach to \u2063manage this unique landscape while \u200calso safeguarding cryptocurrency investors. Unlike investors\u200c in traditional securities, cryptocurrency investors lack certain protections.<\/p>\n<p>Curious to learn more? <a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read the full article from The Washington Examiner.<\/p>\n<h2>Binance and Founder Changpeng Zhao Face Charges<\/h2>\n<p>In another development, Binance and\u2063 its founder, Changpeng Zhao, are currently facing charges from\u200b both the Security and Exchange \u2064Commission and the Commodity Futures Trading Commission.\u2063 These charges stem from allegations\u2063 of\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beleaguered-crypto-billionaire-was-hobnobbing-at-white-house-just-six-months-ago\/\" title=\"Beleaguered Crypto Billionaire Was Hobnobbing at White House Just Six Months Ago\">mishandling customer funds<\/a> and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doj-officials-hesitant-to-prosecute-binance-for-fear-of-crypto-exchange-run\/\" title=\"DOJ officials reluctant to charge Binance, fearing potential crypto exchange panic.\">violating trading laws<\/a>.<\/p>\n<p>Recognizing the need for additional regulations, key members of Congress have been working to advance \u200dlegislation for stablecoins and cryptocurrencies. The House Financial Services Committee recently approved legislation that would establish a regulatory framework. This legislation would require cryptocurrency companies to register with the SEC or CFTC and adhere to specific protocols that classify \u200btheir tokens as commodities \u2063rather than securities. After the August recess, the legislation will be considered \u2062on the House floor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>with the collapse of Mt. Gox, leading to financial losses for users.<\/p>\n","protected":false},"author":1,"featured_media":1991016,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1991015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1991015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1991015"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1991015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1991016"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1991015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1991015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1991015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}