The CEO of Binance, Changpeng Zhao, has been charged with violating US anti-money laundering regulations and will plead guilty to the charges. This will allow the company to continue operating, as reported by The Wall Street Journal. Zhao is set to appear in federal court in Seattle on Tuesday afternoon local time and enter his guilty plea. His company, Binance, which he founded in 2017 and is considered the most important international crypto hub, will also plead guilty to a criminal complaint and agree to a billion-dollar fine totaling 4.3 billion euros.
This deal marks the end of a long investigation into Binance by US authorities. Despite the charges against Zhao and his company, he will retain a majority stake in the company but without an executive role in management. He will later be sentenced for his violations.
In August it was announced that Binance would remain active in Belgium through a Polish license after being ordered by financial regulator FSMA to discontinue its crypto services in our country due to operating illegally from countries that are not members of the European Economic Area. However, the links included do not seem related to this story and feel out of place here.