The US Justice Department is reportedly seeking over $4 billion from cryptocurrency exchange Binance to settle a criminal investigation into alleged money laundering, bank fraud, and sanctions violations. Negotiations between federal prosecutors and Binance have included the possibility of criminal charges against the exchange’s founder and CEO, Changpeng Zhao. Despite residing in the United Arab Emirates, which lacks an extradition treaty with the US, Zhao could still voluntarily face potential charges in the US. Binance has been under investigation by multiple agencies for more than three years, with prosecutors examining whether the exchange violated anti-money laundering laws and standards. A potential settlement could be reached by the end of November, requiring Binance to pay additional funds and improve its know-your-customer procedures.

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Information	Details
Geography	Middle East
Countries	🇺🇸 🇦🇪
Sentiment	neutral
Relevance Score	1
People	Changpeng Zhao
Companies	US Justice Department, Binance, Internal Revenue Service, Bloomberg, Commodity Futures Trading Commission
Currencies	None
Securities	None