Binance is allegedly being investigated in the United States for insider trading

While commenting on the development, a Binance spokesperson told reporters that the exchange followed the ethical code to the letter. Binance has a “zero-tolerance policy for insider trading” and a “strict ethical code related to any type of behavior that could have a negative impact on our customers or industry,” according to him.

A member of the exchange’s staff found guilty of the accusation would be “immediately terminated,” according to the spokesperson.

You may recall that we recently reported that the CZ-led exchange has been accused of market manipulation.

Regulators versus Binance

Binance had previously been investigated by US authorities for alleged money laundering and tax evasion, as well as whether it had provided US residents with access to trade derivatives.

This investigation also comes at a time when the CZ-owned exchange is battling regulatory battles from all over the world, and in order to combat the pressure, it has been hiring executives with extensive regulatory experience in order to expand its products.

As part of its efforts, the exchange recently announced its intention to establish a physical headquarters, despite the fact that regulators have repeatedly slammed its “decentralized” claims.