The House of Representatives Committee on Financial Crimes has decided to recommend invoking its powers to subpoena and arrest executives of Binance.
This decision came after the executives failed to appear before the Committee for an investigation hearing on allegations related to financing terrorism, money laundering, tax evasion, and other financial crimes.
Despite legal representation sent by Binance, the Committee insisted that the executives must appear in person.
The Committee cited concerns over recent arrests of Binance executives as a reason for their absence.
Hon. Ginger Obinna Onwusibe, the Committee Chairman, expressed disappointment at Binance’s absence and announced the Committee’s resolution to recommend invoking its powers to arrest and bring the executives before the Committee for questioning.
