🔼Breaking News Update: 🚨
The U.S. authorities have recommended a 36-month prison term and a $50 million fine for Changpeng Zhao, the former CEO of Binance, as per the latest developments. This decision comes amidst Zhao's acknowledgment of breaching anti-money laundering regulations back in November. The Department of Justice is pushing for a harsher penalty, citing Zhao's failure to establish a robust AML program during his tenure at Binance.
Allegations suggest that the exchange's actions facilitated illicit activities,
including fund concealment and violation of U.S. sanctions.
Despite stepping down as CEO, Zhao retains majority shares and remains active in the cryptocurrency domain.
Recently, he initiated an educational program for children.
Stay tuned for further updates. #BreakingCryptoNews
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