Officials with the U.S. Justice Department, Treasury, and CFTC alleged Binance “lacked basic safeguards” to protect against sanctions and Changpeng Zhao committed criminal acts.
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We’re pleased to share we’ve reached resolution with several US agencies related to their investigations.
This allows us to turn the page on a challenging yet transformative chapter of learning that has helped us become stronger, safer, and an even more secure platform.
According to the indictment against CZ filed under seal on Nov. 14, the Binance CEO faced one charge for failure to maintain an effective Anti-Money Laundering program at the crypto exchange, violating the Bank Secrecy Act. Court records concerning charges against Binance and CZ had been kept under seal from Nov. 14 to 21 following motions from prosecutors in agreement with both parties.
The settlement between U.S. officials and Binance largely concluded many of the civil and criminal investigations into the exchange going back months. The crypto exchange still has a pending civil case with the U.S. Securities and Exchange Commission, which charged Binance, Binance.US and CZ for securities law violations in June.
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