Source: Wall Street
The scope of US regulators' investigation into Yuan an has expanded, and regulators are examining the company's possible insider trading and market manipulation.
Bloomberg reported that US regulators are investigating whether Yuan an and its employees are profiting from the company's clients, reviewing investigators involving the US Commodity Futures Trading Commission (CFTC), who have been contacting potential witnesses in recent weeks.
CFTC is also investigating whether Qian'an allows U. S. residents to buy and sell derivatives related to bitcoin and other virtual tokens. Since Qian an is not registered with U. S. regulators, the company should ban Americans from trading derivatives regulated by the Commodity Futures Trading Commission. Investigators are looking for internal data and communications from Qian an to indicate that the company may have tried to sign up with US customers.
In response to reports of an investigation into insider trading, Yuan'an officials said the company adopted a "zero tolerance" policy on insider trading and established a "strict code of ethics" to prevent any misconduct that might harm its customers or the encryption industry.
The US Department of Justice and the IRS have previously launched a criminal investigation into whether Qian'an has become a channel for money laundering and tax evasion. At present, Yuan an has not been accused of wrongdoing for the time being. CFTC and the U.S. Department of Justice have been reviewing the company for months, and it could take some time to decide whether to take enforcement action.
Compliance has always been the focus of currency security controversy. Due to the lack of appropriate licenses, more and more countries require Min'an and its subsidiaries to stop providing services in their territories.
The Singapore Monetary Authority said earlier this month that Yuan an may have violated local laws and should stop providing payment services to the country's residents. The HKMA also added Binance.com to its investor alert list to warn local consumers that it was not allowed to offer any payment services in Singapore.
Risk reminder and exemption clause
There are risks in the market, so investment should be cautious. This article does not constitute personal investment advice, nor does it take into account the special investment objectives, financial situation or needs of individual users. Users should consider whether any comments, opinions or conclusions in this article are in line with their specific circumstances. If you invest accordingly, you will bear your own responsibility.