Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States. 

No more.

Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the history of the U.S. Treasury Department.

Moreover, Binance’s founder, CEO and principal owner Changpeng “CZ” Zhao — deemed by many the most powerful individual in crypto — will be sidelined from the firm for at least three years after the naming of a court-appointed monitor.

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go…

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