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Binance has official statement regarding controversy its embroiled in

Binance has issue an official statement regarding the recent controversy that has mentioned their name.

Statement is as follows:

“Binance has not received any formal copy of the letter request filed by Infrawatch PH; however, we are open to any discussion.

“Binance is continuously engaging with stakeholders globally, including in the Philippines, to further contribute to the web3 and blockchain ecosystem. We are working and would like to work with various organizations, companies, and community movers to know how to make the best approach, introduce, and create opportunities around web3 technology in the Philippines.”

And here’s the original story posted online which involves the trading platform…



Let me save you a click regarding Binance, here’s a quick look on what it is and where it came from from Wikipedia…

Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands.

Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency.

In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses.The UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.

In 2021, Binance shared client data, including names and addresses, with the Russian government.

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