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2023-11-23 -Lurid Crime Tales-
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Binance CEO agrees to step down, pleads guilty in $4B settlement
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 [NYPOST] The US government dealt a massive blow to the world’s largest cryptocurrency exchange Binance as its founder, Changpeng Zhao, pleaded guilty to a felony charge Tuesday related to his failure to prevent money laundering on his platform.
Binance also agreed to a roughly $4 billion settlement with the US over violations of the Bank Secrecy Act and apparent violations of sanctions programs, including failure to put into place a suspicious transaction reporting programs. Zhao announced that he stepped down as the company’s chief executive.
Over the summer, the company was accused of operating as an unregistered securities exchange and violating a slew of US securities laws in a lawsuit from regulators. That case was similar to practices uncovered after the collapse of FTX, the second largest cryptocurrency exchange, last year.
"Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed — now it is paying one of the largest corporate penalties in US history," said Attorney General Merrick B. Garland. "The message here should be clear: using new technology to break the law does not make you a disruptor, it makes you a criminal."
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Posted by Fred 2023-11-23 00:00||
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Posted by EMS Artifact 2023-11-23 09:12||
2023-11-23 09:12||
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Posted by M. Murcek 2023-11-23 09:15||
2023-11-23 09:15||
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Posted by DooDahMan 2023-11-23 09:17||
2023-11-23 09:17||
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