DOJ Is Seeking $4 Billion From Binance, Criminal Charges Against CZ - Decrypt


20 Nov 2023 6:23 PM

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.

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You May Ask

What is Binance being investigated for by the U.S. Department of Justice?How much is the potential settlement penalty for Binance?Will Binance's founder and CEO, Changpeng Zhao, face criminal charges?What conditions would Binance have to meet as part of the settlement deal?Which other regulatory agencies have ongoing lawsuits against Binance?

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