Binance to Pay $4.3 Billion in Historic U.S. Settlement
The fine, stemming from anti-money laundering and sanctions violations, marks a significant legal resolution for the world's largest cryptocurrency exchange.
- Binance Holdings Ltd. has been ordered to pay $4.3 billion in fines and penalties, marking one of the largest criminal fines in U.S. history.
- The fine is part of a plea deal approved by U.S. District Judge Richard Jones, stemming from Binance's admission of facilitating transactions for designated terrorist groups.
- Changpeng Zhao, Binance's founder, faces sentencing in April, with expectations of no more than 18 months in prison and a $50 million fine.
- Prosecutors highlighted Binance's deliberate misconduct, emphasizing the company's failure to implement an effective anti-money laundering program.
- Binance has agreed to undergo compliance monitoring by an independent firm for up to five years, signaling its commitment to enhancing compliance measures.
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