US prosecutors push the judge to accept Binance’s $4.3 billion penalty plea deal.
Former Binance CEO CZ faces up to 10 years in prison but is expected to receive 18 months.
Binance Holdings Ltd., a major cryptocurrency exchange, faces significant legal repercussions in the United States. US prosecutors are strongly advocating for a federal judge in Seattle to approve a plea deal with Binance, which has admitted to serious violations including anti-money laundering and sanctions breaches. The plea deal involves Binance agreeing to pay a record-breaking $4.3 billion in penalties, marking one of the largest criminal fines in US history.
According to the Bloomberg report, the prosecutors emphasized that senior executives at Binance were directly involved in intentional misconduct, justifying the substantial penalties proposed. The company’s failure to register as a money services business and its lack of an effective anti-money laundering program made it susceptible to exploitation by
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