Bloomberg notes that more illicit funds flowed through Binance last year than any other crypto exchange, according to blockchain data company Chainalysis, though it's worth noting Binance is also the world's largest crypto exchange. In an email, a Binance spokesperson said the company doesn’t comment on specific inquiries; Forbes is awaiting responses from the IRS and DOJ. Crucial Quote“We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion,” a Binance spokeswoman said in a statement. Though it's exploded in value, the cryptocurrency market is still largely unregulated in the U.S., but its anonymous transactions have drawn increased scrutiny from U.S. officials. Surprising FactColonial Pipeline reportedly paid hackers $5 million in an unidentified cryptocurrency on Friday following a cyberattack that forced the pipeline offline and created a severe gas shortage.

Source: Forbes May 13, 2021 18:28 UTC