Binance to Cooperate Less on Crypto Cases, Justice Department Warns Staff in Memo

In early June, the U.S. Department of Justice sent a memo to its attorneys working on digital currency cases with a warning: They should expect less cooperation from the world’s largest crypto exchange, Binance, on future cases.

The email came from Rachel Jones, the Justice Department’s digital currency counsel, and cc’d top attorneys such as Kevin Mosley.

In 2023, Mosley prosecuted the department’s case against Binance, which charged the exchange and its CEO, Changpeng Zhao, with money laundering and Bank Secrecy Act violations.

In the email, which The Information viewed, Jones said Binance would be instituting onerous new requirements for prosecutors seeking asset freezes and seizures on its platform.

When contacted for comment, a Binance spokesperson denied that the company was implementing any of the new procedures laid out in the memo. “There has been and will be no change to Binance’s cooperation with U.S. law enforcement,” the spokesperson said in a statement shared with The Information. “Any suggestion that Binance has reduced or is reducing cooperation with law enforcement is wrong.”