The US senator asked Yuan An to provide the balance sheet from 2017 to date

According to reports, three US senators sent a letter to Zhao Changpeng, the founder of Coin An, and Brian Shroder, its top US deputy, saying that Coin An and its related entities deliberately evaded the regulatory authorities, transferred assets to criminals and sanctions evaders, and hid basic financial information from its customers and the public.

Interpretation of this information:

The message is clear that three US senators sent a letter to the founder and top US deputy of Coin An, accusing it of deliberately evading regulatory authorities, transferring assets to criminals and sanctions evaders, and hiding basic financial information from customers and the public. The allegations are serious and could lead to significant backlash for the cryptocurrency company in question.

The fact that the senators sent a letter directly to the founder and top US deputy of Coin An suggests that they have real concerns about the company’s practices. The allegations that the company is deliberately evading regulatory authorities suggest that it may be breaking the law around the world. If these allegations are true, it could also put Coin An at risk of being shut down by regulators.

Furthermore, the accusations that Coin An has transferred assets to criminals and sanctions evaders suggest that it may be enabling or even actively participating in illegal activities. This is alarming because cryptocurrencies have long been viewed as a source of financial criminal activity. If Coin An is found to have facilitated such conduct, it could tarnish the reputation of cryptocurrencies more broadly and further undermine the legitimacy of the industry as a whole.

The accusation that Coin An hid basic financial information from its customers and the public is also problematic. This suggests that the company may have been operating in an opaque manner in order to avoid scrutiny from regulators or other interested parties. This would be a major concern for customers who have entrusted their money to the company, as well as for investors who may be interested in the company’s financial performance.

Overall, the message conveyed by the senators’ letter to Coin An is that the company may be engaging in illegal or unethical practices that put its customers, investors, and the wider public at risk. If these allegations are true, then it is essential that regulators take action to hold Coin An accountable and prevent such conduct from spreading to other cryptocurrency companies.