Scoop: EU officials suspect Binance is faking accounts in Ireland and Malta
Protos has learned from European Union authorities that Binance’s companies in Ireland and Malta have raised various red flags, indicating that the crypto exchange is obfuscating illicit activity such as money laundering and tax evasion. European investigators told Protos they’re worried that Binance may be faking its accounts and operations in several EU jurisdictions and commingling funds from revenue streams of different countries to avoid the eyebrows of regulators and tax authorities. According to them, these concerns have been raised due to its operations within Ireland and Malta being particularly difficult to track, despite claiming to employ dozens of employees. Revenue streams are unexplained or explained by “consultancy services” according to official records, and the companies don’t have an active and operational space other than their registered address — which are shared with other companies. In some cases, officials believe Binance is inflating reg...