John Reed Stark, a former SEC enforcement official, has been vocal for months about his speculation that the US Department of Justice (DOJ) is about to take action against Binance. His latest claim is based on a Wall Street Journal report that reveals the exchange’s connections with sanctioned banks and its involvement in large-scale ruble-to-crypto trades. Stark believes this could be evidence of Binance running an international money laundering service.The SEC has filed a 136-page complaint alleging a “massive market manipulation scheme” at Binance, and the U.S. Commodity Futures Trading Commission has filed a 76-page complaint accusing Binance of a “vast criminal enterprise” and evading anti-money laundering procedures.John E Deaton, a respected XRP community attorney, and Joe Carlasare have both expressed their confusion as to why the DOJ has not yet filed any charges. They both believe that action is coming.A recent report from Semafor suggests that the DOJ is carefully weighing potential fraud charges against Binance, taking into account the potential repercussions on the broader crypto ecosystem. Insider sources have alluded to fears of a “bank run”, similar to what was witnessed with the now-bankrupt FTX platform.The increasing speculations and escalating allegations have put Binance at a pivotal crossroads. The BNB price has been under pressure in recent days, currently standing at $213 and risking a deeper drop.

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	8
People	John Reed Stark, Joe Carlasare, John E Deaton, Changpeng Zhao, Joe
Currencies	Ruble, USD, BNB, Bitcoin, Ethereum
Securities	None