DOJ Is Seeking $4 Billion From Binance, Criminal Charges Against CZ - Decrypt
Negotiation of a potential $4 billion settlement include possible criminal charges against Binance's founder and CEO Changpeng Zhao....
- Crypto exchange Binance is reportedly nearing a settlement with the U.S. Department of Justice to resolve a criminal investigation into alleged money laundering, bank fraud, and sanctions violations.
- The settlement deal, if finalized, would require Binance to pay a $4 billion penalty and meet prescribed conditions, such as overhauling compliance programs.
- Binance's founder and CEO Changpeng Zhao (CZ) may face criminal charges, but the exchange would be allowed to continue operating.
- The investigation focuses on whether Binance facilitated transactions violating U.S. sanctions on Iran and Russia.
- Binance is also facing regulatory action from the Commodities and Futures Trading Commission and Securities and Exchange Commission.
The sentiment of the article is negative, as it discusses a criminal investigation, potential penalties, and regulatory action against Binance.