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