US Treasury Department: Binance grants VIP users privilege of receiving advance notice when being investigated by law enforcement agencies.

According to BlockBeats news on November 22, Binance VIP users have been granted a series of special privileges, including advance notice when being investigated by law enforcement agencies, according to the US Treasury Department's Financial Crimes Enforcement Network (FinCEN). According to FinCEN, Binance VIP team members were instructed to contact the investigated users through "all available means," including sending text messages and making phone calls to notify customers that their accounts have been frozen or unfrozen. FinCEN warned Binance VIP team members not to be too obvious in their prompts. The company told the VIP team, "Under FinCEN's order, we cannot give a strong hint or directly ask users to run/exit in any case, otherwise we will be prosecuted or held personally responsible. For example, your account has been unlocked/your account has been investigated by XXX, which is usually a sufficiently obvious and serious hint." According to FinCEN, Binance's internal reports show that in 2019, VIP customers "accounted for two-thirds to three-quarters of Binance's trading volume and trading revenue," and added that "therefore, Binance has a significant business incentive" to do everything possible to support these VIP users. Although the rules prohibit Americans from trading on the platform, US users "represent an important part of the VIP user group" and sometimes account for 20% of the trading fees on the exchange platform.