Binance, along with its former CEO, Changpeng Zhao, has agreed to pay a total of $2.7 billion in a settlement with the CFTC, following violations of the Commodity Exchange Act.
The current Bitcoin market shows signs of an upward trend, potentially reaching $45,000, influenced by BlackRock’s recent ETF filing.
Settlement between Binance and CFTC: A Detailed Look
In a landmark decision, a U.S. district court has approved a significant settlement between the cryptocurrency exchange Binance and the Commodity Futures Trading Commission (CFTC). This agreement comes after the court found Binance and its former CEO, Changpeng Zhao, as CNF reported earlier, guilty of violating the Commodity Exchange Act (CEA) and CFTC regulations. The settlement includes a hefty $2.7 billion payment from Binance to the CFTC, of which half is to be returned as “ill-gotten” transaction fees and the other half as a penalty.
Judge Manish Shah approved the settlement agreement between Binance and the CFTC. Bin

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