Binance planned to avoid scrutiny by setting up US arm, reports WSJ

Binance planned to avoid scrutiny by setting up US arm, reports WSJ

FILE PHOTO: A composition showing crypto currency with the Binance logo. Picture taken on Nov. 10, 2022. REUTERS/Dado Ruvic/File Photo

Binance, one of the world’s largest cryptocurrency exchanges, developed a plan to avoid the threat of prosecution by US authorities as it started an American entity in 2019, the Wall Street Journal reported on Sunday.