Cryptocurrency giant Binance has agreed to pay a high price for irregularities committed in the United States. The company has reached an agreement with the Department of Justice, the Treasury and the Futures Market Commission (CFTC) to pay a fine of 4.3 billion dollars (about 3.9 billion euros) for violating anti-money laundering laws and the regulation of securities markets. In addition, the head of the platform, Changpeng Zhao, pleads guilty and agrees to resign, but will be able to maintain shareholder control of the company.
It is expected that the agreement, which has been advanced by The Wall Street Journal, be ratified this Tuesday in a federal court in Seattle (Washington). US regulators accused Binance of operating illegally in the country last March. The Futures Exchange Commission (CFTC) filed a civil lawsuit against the world’s largest cryptocurrency trading platform, its founder and boss, Changpeng Zhao, and its former chief compliance officer, Samuel Lim.
He accused them of flouting regulations that require operations with futures and derivatives on raw materials and other assets to be carried out through regulated markets. “Don’t leave anything in writing,” Zhao said when giving instructions on how to break the law using the Signal application, with messages that were automatically deleted.
In June, the Securities and Exchange Commission (SEC) also filed an indictment against Binance and Changpeng Zhao. The SEC filed 13 charges and asserted that Binance received $11.6 billion in revenue from, among other things, commissions on transactions from US clients without being properly registered for this purpose. According to TWSJ, The agreement now reached does not cover the SEC’s demand, as Binance believes it can win the case against the securities regulator.
The stock market supervisor accused the platform of operating “with flagrant disregard for federal securities laws and the protections these laws provide to investors and the market.” “Thus, the defendants have enriched themselves by billions of US dollars while putting investors’ assets at significant risk,” he added.
[Noticia de última hora. Habrá ampliación en breve]
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