The DOJ has announced that Binance pleaded guilty to money laundering, and faces over $4 billion in fines, and Mr. Zhao consents to resign as CEO of Binance.
Table of Contents'Complete Exit From the United States'More Details
The founder of Binance, the largest cryptocurrency exchange in the world, Changpeng Zhao, entered a guilty plea to charges of money laundering, agreed to resign, and paid a fine of $50 million. Meanwhile, Binance must make a "complete exit" from the United States and pay over $4 billion in fines to settle criminal charges.
Binance and Mr. Zhao decided to enter into a plea agreement with several U.S. federal agencies, including the Department of Justice (DOJ) and the Department of the Treasury, after a years-long investigation into the operations of the cryptocurrency exchange.
Binance agreed to pay over $4 billion in penalties as well as admit admission to criminal charges as part of the comprehensive settlement.
According to a court document, ...
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