Binance Removes Blacklisted Russian Banks From P2P Trading

• U.S. government issued 4 million pages of discovery documents to Bankman-Fried and attorneys.
• Rep. Patrick McHenry criticized proposed crypto tax rules as an attack on the digital asset ecosystem.
• Binance reportedly removed 5 sanctioned Russian banks from its P2P trading service following a WSJ report.

U.S. Government Investigation

The U.S. government has issued 4 million pages of discovery documents to Bankman-Fried and its attorneys, possibly related to a larger investigation into digital assets and cryptocurrencies in the country.

Rep Patrick McHenry’s Criticism

Rep Patrick McHenry (R-NC) has criticized proposed crypto tax rules by the Internal Revenue Service (IRS) as an attack on the digital asset ecosystem in the United States, calling it “burdensome” and “unnecessary” for taxpayers and businesses alike who use cryptocurrencies or other digital assets for transactions.

Worldcoin Whistleblower

A whistleblower associated with Worldcoin publicly severed ties with the project, citing that it „deserves whatever will come next“ after being accused of fraudulent activities by some users of the platform. Nate Chastain was sentenced to three months for insider trading at OpenSea as part of a case brought forward by the Securities Exchange Commission (SEC).

Binance Connections with Russian Banks

The Wall Street Journal reported earlier this week that Binance allegedly maintained ties with blacklisted Russian banks despite Western sanctions imposed against Russia, however Binance has since removed five sanctioned Russian banks from its peer-to-peer (P2P) trading service following this report.

Conclusion

Overall, recent news regarding cryptocurrency regulations has been mixed, but it is clear that governments are cracking down on any suspicious activity involving digital assets and cryptocurrencies within their jurisdictions, while exchanges such as Binance are taking steps to ensure compliance with local regulations including those imposed against certain countries like Russia