On October 29, 2020, Forbes published an article containing false claims regarding "how Binance evades scrutiny from U.S. regulators." This article has been distorted and widely circulated within the Chinese community, severely damaging Binance's brand and reputation. In response, Binance hereby issues the following official statement:
1. The so-called "Binance PPT" referenced in the Forbes article was a proposal submitted by a third-party law firm to Binance, not created by any Binance employee, and ultimately was not adopted.
2. The source of the Forbes article is the aforementioned third-party document. This alleged "Binance working document" was not produced by any current or former Binance employee. We believe this should be common sense—anyone can create a so-called "Binance strategy document," just as anyone can create a "moon landing strategy document."
3. Binance has always strictly complied with the laws and regulations of every country and region, and closely cooperates with law enforcement agencies worldwide to promote the positive development of the industry.
4. Contrary to the implications in the article, Binance consistently adheres to local judicial oversight and legal requirements across all jurisdictions, and maintains close cooperative relationships with many well-known global law enforcement agencies.
5. Binance operates strictly within the boundaries permitted by law. Our collaboration in establishing compliant trading platforms in the U.S., Singapore, the UK, South Korea, Turkey, and other countries clearly demonstrates this commitment.
6. Binance maintains strong cooperative relationships with numerous renowned global law enforcement agencies. We have also partnered with leading anti-money laundering and counter-terrorism financing (CFT) tools and providers—including CipherTrace, Elliptic, Refinitiv, Jumio, and others—to ensure operations under high regulatory standards, and we will continue to do so.
7. In the United States, Binance adheres to strict local access conditions and operational models. Binance.US operates as an independent entity and currently ranks third in trading volume among U.S. exchanges—not the so-called "shell" described in the previously disclosed PPT.
8. "No comment" is a standard Western media response to non-factual inquiries. Both law enforcement agencies and Binance provided this same reply, which has been falsely misrepresented in the Chinese community as evidence of being "under investigation by the FBI or IRS"—a completely baseless claim.
Binance’s registration, licensing, and regulatory compliance activities across multiple jurisdictions sufficiently demonstrate our ongoing efforts and achievements in pursuing a lawful and compliant global presence. Binance will continue investing more resources into strengthening the foundational blockchain infrastructure and expanding blockchain application scenarios and frontiers. Industry growth is not a zero-sum game, but requires collective contribution from all participants. Binance will remain focused on doing the right things, and we encourage our peers to join us in building a stronger, more responsible ecosystem together.
