Cryptocurrency giant Binance has agreed to pay a heavy price for irregularities committed in the United States. The company has agreed with the Department of Justice, the Department of Treasury and the Futures Market Commission (CFTC) to pay a $4.3 billion fine for violations of anti-money laundering and anti-money laundering laws regulation of the securities markets. Additionally, the platform’s head, Changpeng Zhao, pleads guilty and agrees to resign, but can retain shareholder control of the company.
The agreement, reported by The Wall Street Journal, is expected to be ratified this Tuesday in federal court in Seattle, Washington. US regulators accused Binance of operating illegally in the country last March. The Futures Exchange Commission (CFTC) has filed a civil lawsuit against the world’s largest cryptocurrency trading platform, its founder and boss Changpeng Zhao, and its former chief compliance officer Samuel Lim.
He accused them of violating regulations that require trades in futures and derivatives on commodities and other assets to be conducted through regulated markets. “Don’t leave anything in writing,” Zhao said as he gave instructions on how to use the Signal application to break the law and automatically delete messages.
In June, the Securities and Exchange Commission (SEC) also filed charges against Binance and Changpeng Zhao. The SEC filed 13 charges alleging that Binance earned $11.6 billion in revenue, including from commissions on transactions from U.S. customers, without being properly registered. According to TWSJ, the settlement now reached does not cover the SEC’s lawsuit, as Binance believes it can win the case against the securities regulator.
The Securities and Exchange Commission official accused the platform of operating in “blatant disregard of the federal securities laws and the protections those laws provide to investors and the market.” “In this way, the defendants enriched themselves by billions of US dollars and at the same time exposed the assets of investors to considerable risk,” it continues.
[Noticia de última hora. Habrá ampliación en breve]
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