Bloomberg
Here Are the Most-Serious Allegations in the US Case Against Binance
S.Ramirez3 months ago
A years-long US government probe of Binance Holdings Ltd. came to an end on Tuesday when the world’s largest crypto exchange agreed to pay a $4.3 billion fine, while the company and its former chief executive officer, Changpeng Zhao, agreed to plead guilty to criminal charges.
Under a sweeping deal worked out with the government and designed to keep the company operating, Zhao will also pay a $50 million fine and stepped down as head of the company. Binance was charged with three counts, including money laundering violations, conspiracy to conduct an unlicensed money transmitting business in the US, and sanctions violations. The settlement negotiated between the two sides will resolve allegations of criminal wrongdoing. Bloomberg News first reported the potential settlement on Monday.
Below are some of the most-interesting parts of the of the government’s filing that lays out its case against Binance:
Under a sweeping deal worked out with the government and designed to keep the company operating, Zhao will also pay a $50 million fine and stepped down as head of the company. Binance was charged with three counts, including money laundering violations, conspiracy to conduct an unlicensed money transmitting business in the US, and sanctions violations. The settlement negotiated between the two sides will resolve allegations of criminal wrongdoing. Bloomberg News first reported the potential settlement on Monday.
Below are some of the most-interesting parts of the of the government’s filing that lays out its case against Binance:
Read the full article:https://www.bloomberg.com/news/articles/2023-11-21/here-are-the-most-serious-allegations-in-the-us-case-against-binance
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