Binance Removes Five Sanctioned Russian Banks From P2P Trading

• The U.S. government has hit Bankman-Fried and attorneys with 4 million pages of discovery documents
• Rep. Patrick McHenry has called proposed crypto tax rules an ‘attack on the digital asset ecosystem’
• Binance has removed several sanctioned Russian banks from its peer-to-peer (P2P) trading service

U.S. Government Hits Bankman-Fried With Discovery Documents

The U.S. government recently served Bankman-Fried and their attorneys with 4 million pages of discovery documents, as part of a legal case involving the company’s alleged illegal activities in the cryptocurrency sector.

Rep. Patrick McHenry Criticizes Proposed Crypto Tax Rules

In response to the proposed crypto tax rules by the Internal Revenue Service, Representative Patrick McHenry called them an „attack on the digital asset ecosystem“.

Worldcoin Whistleblower Severs Ties With Project

A Worldcoin whistleblower publicly severed ties with the project, citing its alleged lack of transparency and accountability in its management practices, stating that it „deserves whatever will come next“. Nate Chastain was also sentenced to three months for insider trading at OpenSea.

Binance Allegedly Maintains Ties With Sanctioned Banks Despite Western Sanctions

Despite western sanctions against certain Russian banks, The Wall Street Journal reported that Binance allegedly maintained ties with these blacklisted institutions through its peer-to-peer (P2P) trading service, until recently when they removed five sanctioned banks from P2P trading altogether due to compliance reasons.

Conclusion

This article highlights some recent news stories related to banking and cryptocurrency regulations in both the United States and Russia. It appears that governments are continuing to put more pressure on cryptocurrency companies to ensure compliance standards are met or else face severe consequences like fines or jail time for those found guilty of illegal activities in this sector..