The office of the commissioner for voluntary organisations has ‘found’ accounts filed by Binance’s Blockchain Charity Foundation, days after threatening to take legal action over its failure to submit them.
A spokesperson for the office said it had since come to their attention that the accounts had been filed, and hence any legal action was not going to be pursued.
“The documents were submitted in September 2020 and were found in an electronic folder. Any inconvenience is regretted”, the spokesperson said.
The climbdown came just four days after the watchdog wrote to the foundation’s administrators, threatening legal action over its supposed failure to submit annual returns for 2018, 2019 and 2020.
Binance’s foundation hit the headlines this week over a legal dispute with the Malta Community Chest Fund.
The legal wrangle centres around cryptocurrency donation pledges made in 2018 by the foundation to aid cancer patients. The Community Chest Fund has accused the foundation of reneging on its donation pledges, which are now worth over €7 million.
Binance’s foundation has in turn claimed the funds were intended to be sent directly to cancer patients, rather than via the Community Chest Fund.