Unless otherwise Binance will allow an independent third party audit on its trading platform, its source codes and internal records, the public will never cease to allege that the exchange is indeed doing wash trading since its a common practice nowadays among exchanges.
If you are doing something illegal and claim that it is a common practice then they will be held accountable for the actions but Binance letting an independent party to audit without any government or court intervention is highly unlikely as they are registered in Malta.
Now I feel like the Government or any other entity that has the power to do it might intervene in behalf of the community.
It is a Federal issue and if they are doing wash trading and if they are caught doing so they will be getting huge fines but the fact is they are registered in Malta and i do not think that any investigation will be conducted.
Being registered in Malta doesn't mean Binance will have immunity from lawsuits or any form of investigations. The U.S. Government, being in good terms with the Malta Government not to mention its existing
extradition treaty can always exert pressure on Malta if the need warrants it.
Aside from that, Malta also cooperates with other nations including the U.S. on various treaties and agreements even with regards to combating transnational crimes, so in essence, Binance or any other exchange for that matter should be and could be held liable and accountable if proven they did wash trade or did any other form of manipulation which is illegal!
I think these are the very reasons why Binance had blocked U.S. customers from trading in its platform!
Now the questions is,
will the U.S. Government have the political will to pursue Binance if they can acquire strong evidences suggesting a wash trade or manipulation had occurred?