Binance has agreed to pay $2.7 billion under an agreement with the CFTC
A court in the United States has approved a settlement agreement between Binance and the CFTC. The exchange will pay a $1.35 billion civil fine and refund $1.35 billion of "illegally obtained commissions."
The junior CEO and the exchange itself admitted to violating the Law on Commodity Exchanges. Fines and refunds are related to the active attraction of customers from the United States and violation of KYC procedures
Binance is also required to carry out additional certification of KYC programs and implement a corporate governance structure.
