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The U.S. Department of Justice (DOJ) may bring criminal charges against Binance

John Reed Stark, the former chairman of the SEC, suggests that the U.S. Department of Justice (DOJ) may bring criminal charges against the cryptocurrency exchange Binance. These statements come after the SEC filed a lawsuit against Binance for alleged securities law violations, and Stark has confirmed that the lawsuit could lead to criminal charges instead of just regulatory measures.

The CFTC also accuses Binance of being involved in the violations. The SEC seeks to freeze assets and return funds, and the evidence presented points to commingling of funds and market manipulation.

Stark believes that the DOJ is likely working with the SEC and CFTC on this case. He also suggests that the criminal charges may be concealed for reasons such as asset dissipation or evidence destruction. This is not the first time Stark has warned about enforcement actions in the cryptocurrency sector. In January, he raised concerns about the SEC’s case against Gemini and Genesis for their lending platform.

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