Binance news stevie t1/6/2024 ![]() The investigation is being led by the criminal division’s money laundering and asset recovery section, along with the national security division and the US attorney’s office in Seattle. ![]() However, Binance would likely be expected to pay more than $4 billion, which would be one of the largest-ever penalties in a criminal cryptocurrency case. The exact timing and structure of the proposed resolution and specific charges aren’t clear. “A settlement with a monitoring provision in place could be a compromise that protects investors and allows Binance the option to evolve into a more institutional and compliant future direction,” said Matt Walsh, founding partner at crypto venture firm Castle Island Ventures. The BNB cryptocurrency, a token native to Binance and the BNB Chain blockchain that was created by the exchange, rose as much as 8.5% to $266.42 after Bloomberg reported the negotiations. The Justice Department declined to comment.Īn announcement could come as soon as the end of the month, though the situation remains fluid, according to the people, who asked not to be named discussing a confidential matter. Zhao, also known as “CZ,” is residing in the United Arab Emirates, which doesn’t have an extradition treaty with the US, but that doesn’t prevent him from coming voluntarily.īinance didn’t respond to multiple emails and phone calls seeking comment. Negotiations between the Justice Department and Binance include the possibility that its founder Changpeng Zhao would face criminal charges in the US under an agreement to resolve the probe into alleged money laundering, bank fraud and sanctions violations, according to people familiar with the discussions. as part of a proposed resolution of a years-long investigation into the world’s largest cryptocurrency exchange. ![]() ![]() The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. ![]()
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