Binance and CEO plead guilty to federal charges in $4 billion resolution

www.irs.gov

Binance and CEO plead guilty to federal charges in $4 billion resolution

www.irs.gov

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News@lemmy.world · 7 months ago

Binance and CEO plead guilty to federal charges in $4 billion resolution | Internal Revenue Service

www.irs.gov

November 21, 2023 — Binance Holdings Limited (Binance), the entity that operates the world’s largest cryptocurrency exchange, Binance.com, pleaded guilty today and has agreed to pay over $4 billion to resolve the Justice Department’s investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Act (IEEPA).

Binance Holdings Limited (Binance), the entity that operates the world’s largest cryptocurrency exchange, Binance.com, pleaded guilty today and has agreed to pay over $4 billion to resolve the Justice Department’s investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Act (IEEPA).

Binance’s founder and chief executive officer (CEO), Changpeng Zhao, a Canadian national, also pleaded guilty to failing to maintain an effective anti-money laundering (AML) program, in violation of the BSA and has resigned as CEO of Binance.

Binance’s guilty plea is part of coordinated resolutions…

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