US officials have reportedly launched a probe into potential insider trading and market manipulation at world's largest cryptocurrency exchange Binance
US officials are examining possible insider trading and market manipulation at Binance, Bloomberg News has reported, potentially adding more heat to the cryptocurrency exchange that has become a target of regulatory scrutiny in many countries.
Authorities are looking into whether Binance or its staff profited by taking advantage of its customers, Bloomberg"At Binance, we have a zero-tolerance policy for insider trading and a strict ethical code related to any type of behavior that could have a negative impact on our customers or industry," the world's biggest crypto platform said in a statement.In international hot water
The exchange, whose holding company is registered in the Cayman Islands, has scaled back its product offerings and said it wants to improve relations with regulators. The review involves Commodity Futures Trading Commission investigators, who in recent weeks have been reaching out to potential witnesses, the Bloomberg report said, adding that Binance has not been accused of wrongdoing and the investigations may not lead to any official action.
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