#Write2Earn #TrendingTopic #TradeNTell #binance- $BTC $BNB $XRP Binance Agrees to Pay $4.3 Billion Plea Deal, Takes Responsibility for Past Violations, What Now For CZ?

Binance Holdings Ltd., the world’s largest cryptocurrency exchange, has secured a judge’s approval for a historic $4.3 billion plea deal with the United States Department of Justice. This significant settlement comes as Binance acknowledges its role in past violations and actions during the leadership of former CEO Changpeng Zhao.

The plea deal, which was initially announced in November, resolves a lengthy investigation that uncovered Binance’s failure to report over 100,000 suspicious transactions, including those involving designated terrorist groups like Hamas, al Qaeda, and ISIS. 

Additionally, Binance was found to have supported the sale of child sexual abuse materials and ranked among the major recipients of ransomware proceeds.

As part of the plea agreement, Binance will forfeit $2.5 billion and pay a criminal fine of $1.8 billion, totaling a record financial penalty of $4.3 billion. The agreement also mandates compliance monitoring for three years by an independent firm, yet to be appointed, and requires Binance to enhance its anti-money laundering and sanctions compliance programs.

Meanwhile, Binance’s settlement marks a turning point, signaling efforts to address past issues and rebuild trust in the cryptocurrency space.

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