Changpeng Zhao Will Step Down As Binance CEO, Admit to Violating Anti-Money Laundering Laws: Report - The Daily Hodl
Binance founder Changpeng Zhao will reportedly step down as the crypto exchange's CEO and admit to violating US anti-money laundering laws....
- Binance founder Changpeng Zhao will step down as CEO and admit to violating US anti-money laundering laws.
- Binance will pay $4.3 billion in fines to US regulators.
- Zhao will plead guilty to criminal charges and may retain majority ownership of the exchange.
- Zhao will not have an executive role at the company and will face sentencing at a later date.
- The deal with the US Department of Justice is separate from the charges faced from the US Securities and Exchange Commission (SEC).
- The Chamber of Digital Commerce defended Binance, stating that tokens are not securities and the markets where they are traded are not securities exchanges.
The article reports on Binance founder Changpeng Zhao stepping down as CEO and admitting to violating US anti-money laundering laws. The sentiment is negative due to the legal issues and fines faced by Binance.