Binance and CEO Guilty Pleas Result in $4 Billion Penalties and 5 Year Monitorship

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Friday, December 1, 2023

Author:

Bruce Zagaris

Volume:

39

Issue:

12

Abstract:

On November 21, 2023, Binance Holdings Limited (Binance), which operates the world’s largest cryptocurrency exchange, Binance.com, pleaded guilty and agreed to pay over $4 billion in penalties to resolve the Justice Department’s investigation into violations of the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Act (IEEPA).