Reuters Is Being Accused of Being Biased on Binance Case

The original Reuters story published on Thursday cited two sources “familiar with the matter” who said that the SEC is investigating Binance for potentially violating US securities laws.

Changpeng Zhao, the CEO of Binance, hit back at Reuters with a tweet for allegedly ignoring the side of Binance amid an investigation by the SEC for possible violation of its legislation for securities trading.

Zhao took to Twitter to express his frustration over the news by Reuters’ reporting, which he said was one-sided. In a thread, he said that Reuters has not reached out to Binance for comment despite the story being “about us.”

First they FUD us with an old article, then when we respond, they don’t bother to update the story with our comment.

He wrote

It is getting harder and harder to trust real journalism.

FUD stands for fear, uncertainty, and doubt – a term often used in the crypto industry to describe negative or misleading reports that aim to create panic.

This is not the first time Binance has been accused of failing to comply with regulations. Zhao previously denied any wrongdoing by Binance and promised that the exchange would “cooperate with any regulatory bodies, if and when required.”

Binance was one of several exchanges that received a subpoena from the US Commodity Futures Trading Commission (CFTC) in early 2019 over allegations of enabling wash trading on their platforms.

In a blog published in may, Zhao notes that in order for cryptocurrency to become widespread, it must be properly regulated. The French DASS and AML/CFT rules have set high anti-money laundering and fit and proper standards to attain regulation.