American tax officials

Chapter 299 The Tough Prosecutor

"Mr. Zhao, Mr. Lin, have you completed your tax filing with the IRS?"

"Mr. Zhao, has Binance reached an agreement with the IRS?"

"Mr. Zhao..."

As Zhao Changpeng and Lin Huaide walked out of the main gate, a large number of media immediately surrounded them.

Zhao Changpeng pressed his hands down and said, "After Director David called on us, Binance launched a thorough tax audit, which did indeed uncover some tax omissions. We've come today to declare and pay the outstanding taxes, totaling 151.2 billion. I also want to remind my colleagues that if you have any tax issues, please declare them promptly and don't try to get away with it!"

Binance is now essentially sold to the IRS, and as an affiliate, it has wisely taken on some of the responsibility of warning other competitors.

Of course, this move was also to express his loyalty to David.

"What?! 151 billion!"

"Oh my god, Binance actually paid so much tax, and they seem pretty happy about it. What happened?"

"151 billion is no small sum, yet Binance willingly handed over the money after less than an hour of negotiations. They seem genuinely afraid of the IRS!"

Upon hearing Zhao Changpeng mention the amount of money, both the media present and the public watching online were taken aback.

However, many people expressed their confusion about this.

Because they had already realized that although such a large sum of money had been paid, the attitude was different from that of Disney and Swiss banks in the past.

The two men, Zhao Changpeng and Lin Huaide, who were present at the moment, did not show any signs of anger or resentment. On the contrary, they seemed to be relieved, which was indeed a bit strange.

But regardless, since Binance has already announced that it will pay this huge sum, there's no doubt that the money will be paid.

Therefore, many people in the military-industrial complex, Onsa Group, the White House, and Congress were extremely pleased at this time.

After David announced that Satoshi Nakamoto would receive $200 billion, they estimated that the IRS already had more than $700 billion in its coffers. With the addition of this $151 billion, the total would be about $900 billion. It was just one step away from the $1000 billion in funding required by the Black Tax Act.

77th floor of Willis Tower, Chicago.

"Fuck, that damn Zhao Changpeng, why is he being so eager?!"

"He even warned us not to try to get away with it. The way he acted, like a lackey of the IRS, was disgusting!"

"Heh, isn't the Department of Justice already investigating Binance? Binance's going to get what's coming to them!"

Upon seeing Binance's statement, Ethereum's top executives erupted in outrage.

To date, no company in the cryptocurrency industry has filed for tax purposes in Los Angeles.

Binance was not only the first to go there, but after paying their taxes, they actually dared to smear them in front of the whole world, which infuriated them.

At this moment, all they hope is that the Department of Justice will intensify its crackdown on Binance so that they can vent their anger.

In fact, apart from Ethereum, virtually all cryptocurrency companies are currently angry and even cursing Binance for its actions.

Despite the curses, since Binance had compromised, some cryptocurrency companies without a strong background dared not resist any longer. They instructed their tax departments to intensify their efforts to clean up their books and then headed towards the Los Angeles IRS.

In the following period, smaller cryptocurrency companies such as EuroEasy, Litecoin, and Cardano also came to the IRS one by one to file tax returns.

Without exception, all of these companies eventually had to pay back taxes.

However, since these companies are relatively small, their total value is only around 50 billion US dollars.

Including the $151 billion Binance previously announced to have paid, the IRS has received over $200 billion in revenue in just one day.

Although the IRS has not yet released the amount in the tax treasury, according to some experts, it is currently only about $1000 billion short of the $50 billion in funding required by the Aid Act.

With everyone watching, it was 5:30 p.m.

"Looks like I'm going to disappoint everyone; big companies like Ethereum and USDT haven't shown up. Let's see what happens tomorrow!"

As of the end of the IRS's working hours today, no sign of major cryptocurrency companies such as USDT and Ethereum has appeared, which has disappointed not only the media present at the scene but also the general public who are following the news online.

"Big companies like USDT and Ethereum haven't made a single move. I wonder if they're planning to fight the IRS?"

"Ethereum is reportedly backed by dozens of consortiums, and these consortiums certainly don't want to spend such a large sum of money, so I feel there's a high probability they'll hold out!"

"Heh, the examples of UBS, the Sackler family, and Disney are right there. Don't they learn from their mistakes?"

However, people on various social media platforms quickly regained their interest.

The reason is simple: even a company as large as Binance can find out its tax situation within a day.

There's no reason why companies like Ethereum and USDT shouldn't be investigated.

The only reason they haven't shown up yet is that these companies don't really want to file tax returns.

Does this mean they're going to go head-to-head with the IRS?

If that's the case, then we're in for a good show!

Everyone is wondering what will happen after tomorrow.

……

Seattle-Tacoma International Airport.

After getting off the plane, Zhao Dechang and Lin Huaide immediately got into their car and headed towards Washington Street.

Half an hour later, their vehicle arrived at 56 Washington Street, which was the office of the special prosecutor sent by the Department of Justice.

After getting out of the car, the two went inside, where they saw two other people already waiting. One of them, a middle-aged man with high cheekbones, spoke first: "Mr. Zhao, Mr. Lin, it's already past closing time. You've made us wait for almost an hour. You'd better give me an explanation!"

"This is Prosecutor Morfield. The reason I've kept you waiting is because I'm here to tell you that Binance has never been involved in any money laundering, illegal fundraising, or similar crimes!"

In the past, Zhao Changpeng certainly wouldn't have dared to show such a tough stance, after all, this is America, and he doesn't have any other background.

However, now that Binance has David and the IRS protecting them, they are full of confidence and naturally no longer afraid of this prosecutor.

"What do you mean?!"

Morfield was furious. He had assumed that the reason the other party had rushed back to Seattle and made them wait was because they were under too much pressure at the IRS and didn't want to continue fighting the Department of Justice, so they came back to try to reach a compromise.

Unexpectedly, the other party not only showed no intention of compromising upon their return, but also became even more arrogant, which was truly outrageous!

"Don't be angry, Prosecutor Morfield. We deny these charges because the IRS has proven our innocence; they've confirmed we're innocent!"

When Zhao Dechang said this, not only did Morfield's brain short-circuit slightly, but the same was true for Deputy Prosecutor Van Persie, who was standing next to him.

Isn't the IRS's job to be responsible for taxation?

When did it become their place to handle crimes like money laundering and illegal fundraising?

and many more……

After a moment of confusion, the two seemed to realize something.

Has the IRS proven Binance's innocence?

This seems like an endorsement of them!

Upon realizing this, both of them turned pale.

If the IRS were to actually endorse Binance, that would be a real problem...

After thinking for a long time, Morfield finally spoke up: "Mr. Zhao, the IRS is only responsible for taxation. Whether you're laundering money or illegally raising funds, I'm afraid they can't decide for you, can they?"

"What they say doesn't count, but what you say, Prosecutor Morfield, definitely counts."

"What do you mean by that?"

"Prosecutor Morfield, to be frank, Chief of the IRS, David, speaks highly of my friend and would like to befriend you as well. What do you think?"

Now that things have come to this, even if Morfield were completely clueless, he would understand.

According to Zhao Changpeng's current understanding, David is trying to protect Binance.

But the IRS can collect taxes, so why are you interfering in the affairs of our Department of Justice?

Just because Binance paid such a large amount of taxes to you?

Even if we pay taxes for you, you can't just meddle in other departments' affairs like this.

Morefield was increasingly indignant, and since cracking down on Binance was the order from above, how could he possibly give up? He then replied, "Mr. Zhao, I don't care whether you are friends with David from the IRS, but I will not give up investigating Binance."

Zhao Changpeng and Lin Huaide exchanged a glance, and then the former took out his phone and dialed a number.

After the call connected, Zhao Changpeng whispered a few words, took the phone and walked up to Morfield, handed it to him and said, "Prosecutor Morfield, Chief David wants to speak with you."

Morfield frowned, but still took it and said, "I am Morfield."

"Hello, Prosecutor Morfield, this is David. I am aware of your investigation into Binance. Our IRS has also conducted a thorough investigation into Binance and found no involvement in money laundering or other illegal activities. I think you don't need to waste your energy investigating further."

"Director David, I respect your profession and work, but this matter concerns my Department of Justice. We have our own judgment regarding whether Binance is involved in money laundering, and we hope you will respect us and not interfere with our process of seeking justice!"

Mofield, who was already annoyed, became even more furious after hearing this. So David from the IRS system was telling people from the Department of Justice how to do things?

"Really? Since you believe Binance is involved in money laundering, what about Ethereum and USDT? Do you believe they are involved? Or are they all legitimate companies?"

David's point is that if you're so capable, go after all the cryptocurrency companies, but if you're only targeting Binance, then don't talk about upholding justice!

"you……"

Morfield, clearly stung, gritted his teeth and replied, "Director David, our Department of Justice's affairs are none of your concern. That's all!"

After saying that, he hung up the phone without waiting for David's reply.

"Are you really that stubborn?"

Meanwhile, in Los Angeles, David was quite annoyed listening to the beeping on the other end of the phone, but he quickly found a number, dialed it, and said, "Make arrangements, I'll go to Seattle tomorrow."

Seattle, Attorney's Office.

Zhao Changpeng hadn't expected the prosecutor to be so tough, daring to disregard even David's feelings. But since things had come to this point, he had nothing more to say and turned to leave with Lin Huaide.

"Morfield, offending David might be a bad thing..."

Seeing Zhao Changpeng and his companion leave, Deputy Prosecutor Fan Peixi showed a hint of worry on his face.

If it were an ordinary person, it wouldn't be a big deal, but this is Director David, whose methods are well-known. What if he wants to get back at them?

Morfield's expression was also somewhat unpleasant. He had indeed been a bit carried away earlier, and now that he had calmed down, a sense of foreboding crept into his heart.

David is no ordinary person; his methods are insidious and ruthless.

If the other party retaliates, it's hard to say whether I can escape unscathed.

However, now that he had already said it, he couldn't bring himself to beg for forgiveness or anything. Besides, cracking down on Binance was a task assigned by his superiors, and if he couldn't handle it, he wouldn't be able to explain it to them.

"He's in Los Angeles right now, and he has big companies like Ethereum and USDT to deal with. I don't believe he can find the time to do anything to us. Besides, even if he wanted to target us, he could at least find something to use against us!"

Now, this is all Morfield can say to himself.

After parting ways with Van Persie and returning to his residence, he immediately made several phone calls to settle his remaining affairs before finally relaxing a little.

……

The following day, cryptocurrency dominated the front pages of major newspapers.

Everyone is eagerly anticipating which companies will come knocking today, following Binance and other cryptocurrency companies yesterday.

Meanwhile, at the Los Angeles IRS, after David arrived at the office and explained some things, he led Nissen, Simmons, and the other two through a side door into a car and headed towards the airport.

Since he had already discussed it with Donald and it was more in the interest of their IRS to protect Binance, he had to deal with the Department of Justice problem for Binance first.

At 10 a.m., the group quietly boarded a flight to Seattle.

(End of this chapter)