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US Seeks More Than $4B from Binance to End Criminal Case

bloomberg.com

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Re: US Seeks More Than $4B from Binance to End Criminal Case

#21

Post by inhumantsar »

pavlov wrote: post #14
rich_sasha wrote: post #8

I know this is how the US operates, still it's weird to trade cash for criminal allegations. Especially when Binance has been so vilified. I'm not defending Binance, rather, it feels like the SEC rhetoric went past the point where a fine is appropriate. Unless they are only proposing it so they can't be accused of not giving them the same treatment that everyone else gets.

It seems like the deal would be more like probation where Binance would remain monitored after paying the fine: "If Binance and the DOJ agree on a deferred-prosecution-agreement, the Justice Department would file a criminal complaint against the company. The US would not go forward with a prosecution as long as the company meets prescribed conditions, which usually include paying a substantial penalty and agreeing to…

Residing in the UAE also wouldn't prevent extraordinary rendition should it come to that...

Re: US Seeks More Than $4B from Binance to End Criminal Case

#22

Post by fredgrott »

pavlov wrote: post #14
rich_sasha wrote: post #8

I know this is how the US operates, still it's weird to trade cash for criminal allegations. Especially when Binance has been so vilified. I'm not defending Binance, rather, it feels like the SEC rhetoric went past the point where a fine is appropriate. Unless they are only proposing it so they can't be accused of not giving them the same treatment that everyone else gets.

It seems like the deal would be more like probation where Binance would remain monitored after paying the fine: "If Binance and the DOJ agree on a deferred-prosecution-agreement, the Justice Department would file a criminal complaint against the company. The US would not go forward with a prosecution as long as the company meets prescribed conditions, which usually include paying a substantial penalty and agreeing to…

it's oh UEA you want protection of your oil tanker traffic from Iran missile hits, guess what let's trade....

Re: US Seeks More Than $4B from Binance to End Criminal Case

#23

Post by brndn_bc »

robocat wrote: post #20
rich_sasha wrote: post #8

I know this is how the US operates, still it's weird to trade cash for criminal allegations. Especially when Binance has been so vilified. I'm not defending Binance, rather, it feels like the SEC rhetoric went past the point where a fine is appropriate. Unless they are only proposing it so they can't be accused of not giving them the same treatment that everyone else gets.

Feels like extortion. The Mafia's bigger brother.

[flagged]

Re: US Seeks More Than $4B from Binance to End Criminal Case

#24

Post by joshuaissac »

Scoundreller wrote: post #18
robin_reala wrote: post #12

Earlier quoted context omitted.

Of course. https://en.wikipedia.org/wiki/Evo_Morales_grounding_incident

From what I’m reading, nobody ordered a plane out of the sky, but several countries (suddenly) excluded a plane from their sky. Of course, if you’re flying over a landlocked country, and every neighbour blocks you from their airspace, you don’t have many options. (Not that this quite happened, but looked to be going in that trajectory).

> nobody ordered a plane out of the sky, but several countries (suddenly) excluded a plane from their sky

Suddenly withdrawing permission for a plane to fly through your sky, after it has already taken off and does not have enough fuel to take an alternative route, has the same effect as ordering it out of the sky.

Re: US Seeks More Than $4B from Binance to End Criminal Case

#26

Post by acdha »

zoklet-enjoyer wrote: post #2

Why would they even negotiate with the United States? It's like if I ran an online business from the US who happened to have customers in Indonesia and I was breaking Indonesian laws. As long as I never planned on going to Indonesia, why would I care? Fun fact: many years ago I did run an online business and I did break laws in other countries that I never plan to go to. I never broke US law.

How many countries and financial institutions will do business with someone the US government has put on a watchlist? Now consider that block chains are designed to make it easy for governments to control so even if I’m some guy in Nigeria my calculations for any transaction have to include a discount rate for the reduced number of people who will accept a transaction linked back to a sanctioned organization. Imagine how different the 1920s would have been if every bank, hotel, restaurant, etc. in Miami knew that the dollars you were paying came from a Cuban casino and were subject to criminal charges.

Re: US Seeks More Than $4B from Binance to End Criminal Case

#30

Post by CrzyLngPwd »

inhumantsar wrote: post #21
pavlov wrote: post #14

Earlier quoted context omitted.

It seems like the deal would be more like probation where Binance would remain monitored after paying the fine: "If Binance and the DOJ agree on a deferred-prosecution-agreement, the Justice Department would file a criminal complaint against the company. The US would not go forward with a prosecution as long as the company meets prescribed conditions, which usually include paying a substantial penalty and agreeing to…

Residing in the UAE also wouldn't prevent extraordinary rendition should it come to that...

Just say kidnapping. It's not like it's North America's first time.
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