US Authorities Poised to Reveal Settlement Agreement with Binance: Reuters
U.S. government authorities are anticipated to announce a settlement with Binance Holdings on Tuesday, concluding a lengthy investigation into the world's largest cryptocurrency exchange.
Because Bitcoin
November 21, 2023
According to Reuter's insider information, U.S. government authorities are anticipated to announce a settlement with Binance Holdings on Tuesday, concluding a lengthy investigation into the world's largest cryptocurrency exchange.
The agreement, addressing charges related to violations of the Bank Secrecy Act and other U.S. laws, involves multiple agencies, including the Justice Department, the Commodity Futures Trading Commission, and the Treasury Department's Financial Crimes Enforcement Network.
Although the specific penalty amount remains unspecified, reports suggest the Justice Department is seeking $4 billion from Binance. The cryptocurrency exchange has been under the scrutiny of the Justice Department since at least 2018, facing a series of legal and regulatory challenges in the U.S. In December 2020, federal prosecutors requested internal records on anti-money laundering efforts and communications involving CEO Changpeng Zhao.
A little over 12 days ago, Binance sent $3.9B in $USDT from wallet (Binance-Cold 2) to wallet (Binance 3), which could be related to the Deptartement of Justice $4B deal.
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