The #crypto space can be wild at times and just like in the traditional places, there is bound to be FUD. Majority of the time, these are baseless and it is good to be aware of this. Moreso, one must be good in research and able to filter the noise, as these could affect your actions if not well received.
In a recent fud, a Chinese reporter (@WuBlockchain) has shared statements regarding Binance's lawsuit with France regulators. The tweet read;
Binance is under investigation by the Paris public prosecutor's office. Coindesk reported. Allegations against Binance from French prosecutors "relates on the one hand to acts of illegal exercise" and "acts of aggravated money laundering".
Previously, Paris and Dubai were once designated as dual headquarters by Binance.
In a response by #Binance Team, they expressed how untrue this allegations were. Stating that binance has been committed to law enforcement education as well as multiple compliances. The tweet read;
"To clarify:
In France, on-site visits by regulators and inspectors, are part of regulatory obligations to which all financial institutions must adhere.
We had an on-site visit last week by the relevant authorities. Binance, as always, was fully collaborative and we met our obligations accordingly. We continue to work closely with regulators and law enforcement agencies on all ongoing compliance requirements to uphold high standards.
Binance invests considerable time and resources into cooperating with law enforcement globally. We abide by all laws in France, just as we do in every other market we operate.
We will not comment on the specifics of law enforcement or regulatory investigations except to say that information about our users is held securely and only provided to government officials upon receipt of documented appropriate justification."
Adding to these and in a bid for utmost transparency, #Cz also shared insights to these allegations. He stated that these were all calculated fuds, as the event occurred a while back, even before the #sec claims. His statement read;
"4. FUD.
In France, surprise (no advanced notice) on-site inspections of regulated businesses are the norm, for banks, and now for crypto too.
The surprise visit for Binance France happened a couple of weeks ago. It's not "news".
Binance France cooperated fully.
Binance also isn't the only crypto business inspected.
This happened to other well known crypto businesses in Paris too.
Binance France đ«đ· continues to be our flagship center in Europe. đâ
The need for user education is ever increasing as this is one of the key solutions to fud and panic.
Binance is committed to transparency and full disclosure, this is one of the most important qualities of the exchange. Nonetheless, Cz remains the most active crypto exchange CEO in the space.
To be continued....
Let's hear your thoughts below đ
Do you think these fud attacks are calculated or purposely targeted?
Also, do you see a chance for bull season anytime soon?
Lastly, should there be penalties for false news carriers?đ€
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