On November 21, 2023, The U.S. Division of Justice (“DOJ”) introduced settlement agreements with Binance Holdings Restricted (“Binance”), the world’s largest cryptocurrency alternate, and Changpeng Zhao (affectionally referred to as “CZ” within the cryptocurrency trade), the alternate’s founder and Chief Govt Officer (“CEO”). Below these agreements, Binance and CZ every agreed to plead responsible to a wide range of offenses as a way to resolve the continuing investigations. Binance plead responsible to violations of the Financial institution Secrecy Act (“BSA”), failure See extra +
On November 21, 2023, The U.S. Division of Justice (“DOJ”) introduced settlement agreements with Binance Holdings Restricted (“Binance”), the world’s largest cryptocurrency alternate, and Changpeng Zhao (affectionally referred to as “CZ” within the cryptocurrency trade), the alternate’s founder and Chief Govt Officer (“CEO”). Below these agreements, Binance and CZ every agreed to plead responsible to a wide range of offenses as a way to resolve the continuing investigations. Binance plead responsible to violations of the Financial institution Secrecy Act (“BSA”), failure to register as a cash transmitting enterprise, and a wide range of sanctions violations below the Worldwide Emergency Financial Powers Act (“IEEPA”). This responsible plea was a decision of investigations carried out by the DOJ, the U.S. Division of Treasury’s Monetary Crimes Enforcement Community (“FinCEN”) and Workplace of International Belongings Management (“OFAC”), and the U.S. Commodity Futures Buying and selling Fee (“CFTC”). CZ, in the meantime, plead responsible to associated violations together with failure to take care of an efficient anti-money laundering (“AML”) program in violation of the BSA.
On this Episode, Matt Stankiewicz and Michael Volkov talk about the Binance settlement and the implications for the cryptocurrency trade. See much less –
