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A scandal led Binance to reveal its correspondence with Reuters

A scandal led Binance to reveal its correspondence with Reuters

Reuters News Agency claimed Binance has been sharing user data with Russian regulators and intelligence agencies. The crypto company denied that and argued that reporters had intentionally ignored their answers.

According to the press release issued by Binance, Reuters reported misleading information, according to which Binance accepted the transfer of user data to Russian regulators, namely, Rosfinmonitoring and the Federal Security Service (FSB). The news agency reports that Russian regulators may have used Binance records to track transfers to opposition figures, including Alexei Navalny.

The Binance team provided an official response shortly after the Reuters article was published. It says that the crypto exchange did not provide information to Rosfinmonitoring or the FSB. At the same time, the trading platform team pointed out that regulators can indeed apply to the company for user data, provided there are legitimate claims.     

“On the specific matter of not sharing data - today, any government or law enforcement agency in the world can request user data from Binance as long as it is accompanied by the proper legal authority. <...> Russia is no different.  Fulfilling disclosure obligations to the authorities in each jurisdiction is a large part of becoming a regulated business and Binance fulfills its legal obligations,” a statement says. 

The company also disclosed press service correspondence with Reuters journalists to show their prejudice against the company. 

The crypto exchange spokesmen consider different options for further actions while not excluding the possibility of bringing the case to the court.

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