Binance CEO Changpeng Zhao (CZ) is reportedly considering stepping down as Chair of the world’s largest cryptocurrency exchange as part of a potential $4 billion settlement with the US Department of Justice (DOJ). The settlement would also involve the Commodities Futures Trading Commission (CFTC), while the Securities and Exchange Commission (SEC) would not be participating. The investigation into Binance’s alleged violations of the Bank Secrecy Act and other US laws has been ongoing since 2018. CZ’s departure, if it happens, would mark a significant development in the regulatory actions faced by Binance and the broader cryptocurrency industry. The exact details of the settlement and CZ’s departure are yet to be confirmed.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Changpeng Zhao
Companies	Binance, Treasury Department’s Financial Crimes Enforcement Network (FinCEN), Department of Justice (DOJ), Securities and Exchange Commission (SEC), Commodities Futures Trading Commission (CFTC)
Currencies	None
Securities	None