📣📣📣 Binance and Kraken settle with US authorities over money laundering charges.😀😀😀
On November 21, 2023, Binance, the world's largest #cryptocurrency exchange, agreed to pay $4.3 billion to settle criminal charges with US authorities. The charges stem from a long-running investigation into Binance's alleged violations of anti-money laundering laws and sanctions regulations. As part of the settlement, Binance's founder and CEO, #ChangpengZhao , also known as CZ, has stepped down from his position.
In addition to Binance, the cryptocurrency exchange Kraken also settled with US authorities on November 21, 2023. Kraken agreed to pay $30 million to settle a civil lawsuit filed by the US Securities and Exchange Commission (SEC). The SEC alleged that Kraken had failed to properly register its staking services with the agency.
The settlements with Binance and Kraken are a sign that US authorities are taking a tougher stance on cryptocurrency regulation. In recent years, there have been growing concerns about the use of cryptocurrencies for money laundering and other illicit activities. The settlements are likely to have a significant impact on the cryptocurrency industry, and they could lead to further regulatory scrutiny of cryptocurrency exchanges.
Here is a summary of the key points from the settlements:
- Binance agreed to pay $4.3 billion to settle criminal charges with US authorities.
- Binance's founder and CEO, Changpeng Zhao, has stepped down from his position.
- Kraken agreed to pay $30 million to settle a civil lawsuit filed by the SEC.
- The settlements are a sign that US authorities are taking a tougher stance on cryptocurrency regulation.