Binance cofounder Changpeng Zhao, one of the most prominent figures in the crypto world, pleaded guilty on Tuesday to a criminal charge of violating the U.S. bank secrecy act, and agreed to step down as head of the company, as part of a broad settlement with U.S. authorities.
The plea deal with federal prosecutors was accompanied by a $4.3 billion fine on Binance itself levied by the Department of the Treasury. The agreement allows for the crypto exchange to continue without its charismatic founder running operations.
…
Master your money.
Subscribe to MarketWatch.
Get this article and all of MarketWatch.
Access from any device. Anywhere. Anytime.
Subscribe Now
Already a subscriber?
Log In
Read the full article here
