Binance Hit With $4.3B Justice Department Penalty: Yellen Says Crypto Exchange ‘Turned A Blind Eye’ To The Law
The world’s largest crypto exchange Binance (CRYPTO: BNB), along with its CEO Changpeng Zhao, admitted guilt to federal charges Tuesday as part of a resolution with the U.S. Justice Department amounting to over $4 billion. Binance conceded to violations related to the Bank Secrecy Act, unlicensed money transmitting and the International Emergency Economic Powers Act, the Justice Department said. The company has agreed to a financial settlement exceeding $4 billion. Binance CEO’s Admission, Resignation: Zhao, the Canadian founder of Binance, pleaded guilty to failing to maintain an effective an…
