Qian An’s Response to Coin On and Binance US Criticism

03/19/2023 00:31 • Crypto & Markets • 89 views

On March 19th, it was reported that Qian An did not mention financial issues in response to criticism from the United States Senate. On March 1, three senators from the Senate Banking Committee wrote to Coin On and Binance US, stating that Coin On and its related entities deliberately evaded regulatory authorities, transferred assets to criminals, and hid basic financial information from customers and the public. The three senators also requested information on the relationship between Coin Security and Binance US. They asked Qian An to respond before March 16th. In its response on March 16th, Coin On did not provide much information, but emphasized that Coin On and its US branches were independent entities. The response also pointed out that Coin Security has a core and supporting compliance staff team of approximately 750 people, including several former regulatory and law enforcement officials. (Bloomberg)

In response to criticism from US senators, Qian An and its US branches are independent entities

Analysis based on this information:

Recently, on March 19th, the cryptocurrency world witnessed Qian An’s response to the criticism from the United States Senate. Three senators from the Senate Banking Committee wrote to Coin On and Binance US on March 1, stating that the two entities deliberately evaded regulatory authorities, transferred assets to criminals, and hid basic financial information from their customers and the public.

The senators also requested information about the relationship between Coin Security and Binance US, asking Qian An to respond before March 16th. However, in Coin On’s response on March 16th, they did not provide much information but emphasized that they and their US branches were independent entities. Moreover, Coin Security has a core team of about 750 people, including several former regulatory and law enforcement officials to support compliance.

From this message, it is clear that Coin On and Binance US have come under the scanner of the US Senate Banking Committee concerning financial issues.

Qian An’s response shows that they may not be willing to reveal much information about the relationship between Coin Security and Binance US, highlighting instead the independence of both entities. This response may signify that Qian An and its related entities may have wanted to avoid drawing unnecessary attention to any irregularities, hiding financial information from their customers, and the public.

Moreover, the fact that the senators specifically questioned the relationship between Coin Security and Binance US may suggest that the committee has reason to believe that there are underlying financial discrepancies between them.

In conclusion, Qian An’s response to the criticism from the US Senate Banking Committee has not provided a definitive answer to the allegations. Instead, they have emphasized the independence of their entities and highlighted the presence of regulatory and law enforcement officials to support compliance. Nonetheless, the whole situation implies that there may be more to the story, and it is necessary for regulatory authorities to investigate further.

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Qian An’s Response to Coin On and Binance US Criticism

In response to criticism from US senators, Qian An and its US branches are independent entities

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