Reported 7 months ago
In a recent inquiry, Legislator Wang Hong-wei revealed that Binance has been penalized for money laundering and fraud in multiple countries around the world, with its founder Zhao Changpeng even being detained in the United States. Despite this, Binance has managed to become a partner of Taiwan's Ministry of Justice, leading to criticism of Taiwan potentially aiding in laundering the image of criminal activities internationally. Wang demanded an immediate halt to such collaboration, questioning the Ministry's choice of partnering with such controversial entities. Taiwan's lag in regulating virtual currency compared to other countries such as the US, EU, Japan, and Singapore was also highlighted, as was the irony of seeking assistance from a company with a tarnished reputation like Binance.
Source: YAHOO