Binance is Accused of $90 Billion in Prohibited Crypto Trades on China’s Market!

The post Binance is Accused of $90 Billion in Prohibited Crypto Trades on China’s Market! appeared first on Coinpedia Fintech News

Binance, a major cryptocurrency exchange, has been accused of facilitating $90 billion worth of trades on China’s banned market. According to The Wall Street Journal, the exchange reportedly used over-the-counter trading desks to bypass China’s strict capital controls, allowing traders to exchange large amounts of cryptocurrency without following traditional order books. Although Binance has denied the allegations, regulators in the United States, the United Kingdom, and Japan have raised concerns over the exchange’s compliance with anti-money laundering laws.