R-T-BThe issue isn't the charges, it's the jurisdiction dude.

How can they be complicit in US money laundering when they won't even let a USA citizen have an account?

Short, logical answer is: unless they are doing something outside what their website is showing (like, in person), they can't.

Also, the definition of what constitutes "money laundering" very much differs in different legal zones. The US must prove that harm was done to their citizens by the exchange knowingly to their legal definition of "money laundering" in order to proceed with a case like this.

Given what I know, I doubt that will happen.

Under the counterterrorism measures approved by Congress after the Sept. 11 attacks, prosecutors are not even required to trace the money back to the target of an investigation.

The authority to seize ill-gotten foreign funds ''is a very powerful tool and one that can affect our international relationships,'' said Bryan Sierra, a spokesman for the Justice Department.

R-T-BThing is, by SEC policy, crypto is not money, but digital property. Whether that law applies to it is debatable. Will be interesting to see how that plays out.

thesmokingmanAnd whether it's a currency or a store of currency

R-T-BBy SEC definition it is neither. But I get your point, gold bullion would be the same. I'm just not entirely sure if that has an impact on what laws apply.

“It could be a real tax mess for folks who try to hide crypto earnings from the IRS,” said Kathryn Hauer, a certified financial planner with Wilson David Investment Advisors in Aiken, South Carolina.

thesmokingmanAgain it really doesn't matter what the SEC considers. The feds are requiring we report our crypto gains.

R-T-BYes, as digital-property sales. It's directly in line with the SECs findings.

If you buy and hold and never sell, despite any aparent "gains" there is no tax.

The difference is small but worth noting.

DeathtoGnomesI wish there was an alternative, so we are stuck with this or a personal wallet which we have to micromanage if you do any staking

JismThis "attitude" appears in lots of businesses lately. It's better to not to join these websites anymore. Skrill for example is doing the exact same thing. I just cancelled my account completely and stopped using skill. They are all out to maximize profits and cover the very basic minimum support. Yet charge huge transaction fee's and all that bullshit.

HemmingstampThe more information the better. I've been reading horror stories but that appears to be down to the individual most of the time.
I've not heard of any exchanges stealing everyone's earning and doing a runner as of late either which gives me hope.

zlobbyJust you wait until the first huge staking scam or something similar unfolds. Lessons will be learned but they will be pricy.

JismThis "attitude" appears in lots of businesses lately. It's better to not to join these websites anymore. Skrill for example is doing the exact same thing. I just cancelled my account completely and stopped using skill. They are all out to maximize profits and cover the very basic minimum support. Yet charge huge transaction fee's and all that bullshit.

BytalesIm buying crypto with my fiat (for which i have allready payed taxes) When i cash out said crypto, i will do so in such a way so that i wont pay taxes again, becuase, guess what, i payed allready when i earned the money with which i bought it in the first place.

silentbogoThat's DOJ and IRS being stupid and greedy once again. Binance explicitly does not work with US of A, so if there's a case of tax evasion or illegal activities, it's US citizens that use Binance who should be investigated. It's a simple case of going after one offshore company being a tad easier, more manageable, and having bigger social resonance than running a crypto-crusade after your own people.


I also started with Coinbase, but outside the US it's nothing more than a fancy wallet with charts. Binance is basically a better Coinbase for the rest of the world.
Heck, I've even tried to do a small crypto withdrawal through my relatives stateside not too long ago, and the whole process was such a clusterf#$% that I was forced to do it through Binance anyways. In EU and CIS it's essentially the only reliable way to buy/sell crypto for fiat. Last months they even added support for UAH and added fiat withdrawals for Ukraine (which is more than Paypal ever did, even after direct talks with our govt.). In the essence the only difference between Coinbase and Binance is one being public and one being private. ID validation is nothing new, and nearly all exchanges do it nowadays, and nearly everywhere there are ways around it.
Plus, exchange is just a tool. Crooks will always find a way to use new tools, so nothing new, nothing surprising, and nothing to blame Binance for (exchange manipulation is a story for another day, but CB had its dirty spots there too). I'm absolutely sure that while I'm writing this post, someone somewhere on another side of the planet in total disregard of scary IRS and photo ID validation is selling adderall and oxies for crypto, cause who the hell is going to check his tax forms anyways?:pimp:

AtnevonBlockchain tie to an actual currenty. Problem solved.