Binance was withholding information from regulators, repeatedly

In a report published on Friday, Reuters laid out the findings of its investigation into the regulatory compliance practices of Binance, the world’s largest cryptocurrency exchange by trading volume.

The authors suggest the existence of a recurring pattern whereby the company’s CEO Changpeng Zhao, while proclaiming its openness to government oversight, ran an organization that systematically denied regulators’ requests for financial and corporate structure information and shirked proper client background checks.