2023-11-21 21:59:07
Tuesday, November 21, 2023, 7:46 p.m. | Updated 8:59 p.m.
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The founder of Binance and also CEO of what is the largest cryptocurrency platform in the world, Changpeng Zhao, resigned this Tuesday after pleading guilty to charges brought against him by the US Department of Justice for money laundering. , Reuters and The Wall Street Journal report. Likewise, Binance will pay fines of about $4.3 billion after this agreement with the US authorities, The Wall Street Journal reported this Tuesday.
The charges against Binance were formally presented last March and, after two years of investigation, the North American authorities determined that the company had not registered as an operator, a necessary requirement to carry out the purchase and sale of cryptocurrencies in the United States.
According to the court, between August 2017 and October 2022, Binance and Zhao engaged in a “calculated and deliberate effort” to operate in the United States without respecting relevant regulatory standards. Likewise, Binance would have “instructed” its clients in the country to evade the controls that the company itself intended to implement to “prevent and detect violations of the legislation.”
These investigations are part of the growing zeal that US agencies are applying to cryptocurrency platforms to avoid fraudulent and illicit behavior.
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