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https://www.washingtonexaminer.com/policy/economy/binance-founder-resign-plead-…
Headline Roundup
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1
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Vincent Isore/Zuma Press
Autocurated
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Binance founder and CEO Changpeng Zhao will resign from the firm and has pleaded guilty to violating criminal law as part of a deal with the government of the United States.

Zhao’s resignation deal includes him pleading guilty to violating the Bank Secrecy Act, which deals with U.S. anti-money-laundering law. The 46-year-old Zhao, who doesn't live in the U.S., appeared in person on Tuesday in Seattle federal court, where he entered the guilty plea, Attorney General Merrick Garland said during a press conference announcing the action.

The Treasury Department announced Tuesday that Binance, the world’s largest cryptocurrency exchange, has agreed to pay more than $4 billion in fines to settle civil accusations from federal regulators. The settlement with the Financial Crimes Enforcement Network alone is for $3.4 billion, which is the largest settlement in Treasury Department history.