The judge questioned Zhao to make sure he understood the plea agreement, saying at one point: "You knew you didn’t have controls in place." He faces a possible guideline sentence range of up to 18 months. sanctions."Īs part of a settlement agreement, Binance will be subject to five years of monitoring and "significant compliance undertakings, including to ensure Binance’s complete exit from the United States," according to the U.S. "And it also allowed over 1.5 million virtual currency trades that violated U.S. "Binance processed these transactions, but it never filed a single suspicious activity report," Yellen said. Treasury said Binance allowed Hamas’ military wing al-Qassam Brigades, Palestinian Islamic Jihad, al-Qaeda and other criminals to conduct transactions. "Binance was allowing illicit actors to transact freely, supporting activities from child sexual abuse, to illegal narcotics, to terrorism, across more than 100,000 transactions." laws designed to protect these systems," Treasury Secretary Janet Yellen said. "Ever since Binance launched its convertible virtual currency platform, it has knowingly evaded the U.S. (Photo by Antonio Masiello/Getty Images)īinance said in a statement that it made "misguided decisions" as it quickly grew to become the world’s largest crypto exchange and that the settlement acknowledges its "responsibility for historical, criminal compliance violations." ROME, ITALY - MAY 10: Founder and CEO of Binance Changpeng Zhao, commonly known as "CZ", attends the "CZ meets Italy" at Palazzo Brancaccio on in Rome, Italy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |