🚀🚀🚀#BNB Held Over $570 on Friday
Taiwanese authorities received money laundering assistance from Binance Financial Crime Compliance Department.
The Taiwan Investigation Bureau received vital information from the exchange.
Binance's Financial Crimes Compliance (FCC) department and Taiwan's Ministry of Justice resolved a NT$200 million ($6.2 million) money laundering case. Binance, which has been accused in various countries of not providing adequate control to prevent money laundering, said it has cooperated with law enforcement and criminal investigations.
Friday's exchange news statement detailed the probe. The accused used digital assets to launder money and faked customer conversation logs, remittance evidence, and identification data.
Binance helps authorities with money laundering
Binance claimed its FCC team provided crypto flow information, met with investigators and prosecutors online, and identified money laundering suspects.
Binance trained INTERPOL investigators on blockchain investigation in February. The exchange and the Netherlands' Fiscal Information and Investigation Service froze millions of Euros from the ZKasino fraud this month.
The exchange announced law enforcement training programs and planned to work with 12 Taiwanese agencies with over 1,000 people.
Binance's native token BNB held above crucial support.
BNB held over $570 on Friday. The exchange's native token is up 1.18% to $576 on Binance. BNB is seeking resistance around $577, the 23.6% Fibonacci retracement of the March 5 low of $356.1 to the March 16 high of $645.20.
BNB might sweep liquidity at $534.8, the 38.2% Fibonacci retracement, if it declines. BNB's RSI is 48.44, near to neutral, and the Moving Average Convergence Divergence indicator has red histogram bars below neutral, confirming the bearish thesis.
BNB may recover to $645.20, its March 16 high. Resistance awaits the token at $593.10, its May 14 high.
