-
Binance CEO steps down, crypto platform hit with record $4.3 billion in damages
The CEO of Binance, the world’s largest cryptocurrency exchange, will step down after the company pleaded guilty Tuesday to violations of the Bank Secrecy Act, an anti-money laundering law, among other charges. The company will pay more than $4.3 billion to settle the charges, the largest penalty in the history of the Treasury department. In prepared remarks, Treasury Secretary Janet Yellen said Binance was guilty of “consistent and egregious violations of U.S. anti-money laundering and sanctions laws.” The Justice Department said in a news release that Changpeng Zhao also pleaded guilty to failing to maintain ... (full story)
