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Binance CEO Resigns After Pleading Guilty to Money-Laundering Charges, Crypto Exchange to Pay $4.3 Billion in Penalties

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Todd Spangler NY Digital Editor Binance Holdings, operator of the largest cryptocurrency exchange in the world, pleaded guilty to U.S.

criminal charges that it violated the Bank Secrecy Act and other laws and will pay $4.3 billion to resolve the investigation, the Justice Department said Tuesday.

In addition, Binance founder Changpeng Zhao entered a guilty plea of failing to maintain an effective anti-money laundering program in violation of the BSA, according to the DOJ.

Zhao has stepped down as CEO of the company. “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 U.S.

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