Forbes: "Binance has developed a strategy to evade the requirements of US regulators"

According to Forbes documents, in 2018 Binance has developed a corporate plan to generate profits in the US market, while avoiding oversight by the country's regulatory authorities.

According to Forbes, citing documents from 2018 of the year, Binance deliberately misled the US regulators, gaining access to American investors. In document, allegedly created with the knowledge of Binance management, describes in detail the work of the American branch of the company, code-named "Tai Chi Organization".

The presentation reveals, how the "Tai Chi Organization" will distribute Binance's US market revenues through a network of corporations, without subjecting your parent company to the scrutiny of the financial regulator.

Binance Exchange CEO Changpeng Zhao (Changpeng Zhao) commented on a Forbes post in a series of posts on the social network Twitter. He declared, that Binance follows all local laws, including US laws, and the document that got into Forbes was not developed by a former or current employee of the company.

"Anyone can prepare a" strategic document ", but that doesn't mean, that Binance will follow these guidelines ", - said Zhao, adding, that the presentation was created by a third party, not within the company.

The person who submitted the document to the editor, who wishes to remain anonymous, stated, that the presentation was first presented to Changpeng Zhao in Q4 2018 of the year by Binance M&A Manager Jared Gross (Jared Gross). According to Forbes, this employee is the general counsel of the exchange.

Source reports, that the document was created by former Binance employee Harry Zhou (Harry Zhou), Co-founder of the partially owned Binance cryptocurrency exchange in San Francisco Koi Trading. The file is called "Presentation 2", so, perhaps, other strategies were considered.

Forbes states, that the document calls for "strategic" use of VPN, to avoid the attention of the US Securities and Exchange Commission (SEC) and New York State Department of Financial Services (NYFDS). 

The document presents a "detailed strategy for diversion of attention" of US regulators. for instance, Binance joins various industry self-regulation groups, to "demonstrate a commitment to regulatory compliance".

Recall, what's in september 2019 Binance launched Binance U.S cryptocurrency exchange. in the USA.