US officials announce $4.3 billion settlement with Binance and plea deal with CZ

Civil servants with THE WE. Justice Department, Treasury, And CFTC alleged Binance "was missing basic guarantees » has protect against punishments And Chang Peng Zhao engaged criminal actions.

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Civil servants with THE United States Department of Justice announcement that Binance CEO Chang Peng “CZ” Zhao will plead guilty has A crime charge as part of A regulation on criminal And civil case with THE exchange.

"In A Nov. 21 press conference, lawyer General Merrick Garland announced that CZ between her advocacy In person In WE. federal court despite resident out THE country. He added that A $4.3 billion regulation with Binance And CZ would be blanket "civil regulatory enforcement Actions" by government departments including THE WE. Treasury And Merchandise Futures contracts Trade Commission (CFTC).

According to has Garland, Binance Strategies allowed the criminals implied In illicit activities has move "stolen funds" through THE exchange. He alleged THE exchange "alleged has conform" with WE. federal laws by offer paths For certain users has to access Binance despite their ties has illicit funds. THE lawyer general said THE exchange would be be subject has monitoring And report requirements And required has deposit suspicious activity reports For pass transactions.

“Binance priority It is profits on THE security of THE American people," said Garland. "By using new technology has to break THE law do not TO DO You A disruptive — he makes You A criminal. »

WE. Treasury secretary Jane Yellen addressing journalists. Source: DOJ

Following Garland, Treasury secretary Jane Yellen said Binance would be pay more that $3.4 billion In penalties has THE Financial Crimes Enforcement Network And roughly $1 billion has THE Treasure...