US Justice Dept. is reportedly ready to settle with Binance for $4 billion


20 Nov 2023 7:43 PM

The US agency and crypto exchange are reportedly negotiating for an end to the investigation that will allow Binance to continue operating in the future....

  • The US Justice Department is in negotiations with Binance to resolve an investigation into the company.
  • Binance would be required to pay $4 billion in fines and comply with US laws to continue operating.
  • Binance CEO Changpeng Zhao (CZ) may face criminal charges related to alleged money laundering, bank fraud, and sanctions violations.
  • CZ is currently living in the UAE, which does not have an extradition treaty with the US.
  • Binance is seeking a deferred prosecution agreement, which would involve paying penalties, admitting non-compliance, and implementing a monitoring process.
  • Binance has not responded to the report.
  • In 2022, CZ sued a Bloomberg subsidiary for publishing false stories about him running a Ponzi Scheme.

The sentiment of the article is negative, as it discusses potential criminal charges, fines, and legal issues surrounding Binance and its CEO.

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