https://www.businesstimes.com.sg/com...o-exchange-payBINANCE chief executive Zhao Changpeng pleaded guilty on Tuesday (Nov 21) to US money-laundering charges, in a deal that will see the cryptocurrency exchange he founded pay over US$4 billion in penalties.
“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,” Attorney General Merrick Garland said in a statement.
Binance’s former chief compliance officer Samuel Lim, a Singaporean, was charged by the Commodity Futures Trading Commission (CFTC) with violating the Commodity Exchange Act and wilfully aiding and abetting Binance’s numerous violations of the Act.