Crypto exchange Binance under investigation for facilitating illegal Bitcoin trades

Binance is being investigated by officials from the Internal Revenue Service and the Department of Justice of the US.

Cryptocurrency exchange Binance is reportedly undergoing an investigation for possibly facilitating illegal trades through its platform. The exchange might have helped in Bitcoin transactions worth around $756 million in 2019 that were associated with criminal activities. A recent report by Bloomberg highlights the ongoing investigation by the Internal Revenue Service and the Department of Justice, US. Binance is being investigated on the possible charges by officials who particularly handle money laundering and tax offences.