US officials announce $4.3B settlement with Binance, plea deal with CZ

Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange.

In a Nov. 21 press conference, Attorney General Merrick Garland announced CZ entered his plea in person in U.S. federal court despite residing outside the country. He added there would be a $4.3-billion settlement with Binance and CZ covering “civil regulatory enforcement actions” by government departments including the U.S. Treasury and Commodity Futures Trading Commission (CFTC).

According to Garland, Binance’s policies allowed criminals involved in illicit activities to…

Read more on Cointelegraph

32.4K Reads