Binance CEO Changpeng Zhao, also known as CZ, is reportedly set to plead guilty to charges related to violating US Anti-Money Laundering (AML) requirements. The United States Department of Justice (DOJ) has reached a $4.3 billion settlement with the cryptocurrency exchange giant. CZ is expected to make his plea in a federal court in Seattle on November 21, responding to charges brought forth by the DOJ, including a criminal violation of Anti-Money Laundering statutes. Despite this settlement, Binance’s legal battle with the US Securities and Exchange Commission (SEC) remains ongoing. However, the settlement may resolve Binance’s issues with the Commodity Futures Trading Commission (CFTC). The settlement includes funds to address the CFTC’s case and settle outstanding cases against Binance. CZ will be able to keep his majority stake in Binance but will be prohibited from holding an executive position within the company. This settlement marks the conclusion of a prolonged investigation that began in 2018.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Changpeng Zhao
Companies	U.S. Securities and Exchange Commission (SEC), Binance, United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC), Wall Street Journal
Currencies	US Dollar
Securities	None