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International Business Times

Business

Nica Osorio

CFTC Ends Enforcement Action; US Court Approves Billion-Dollar Settlement With Binance, CZ

Binance CFTC Changpeng Zhao Changpeng Zhao CZ United States DOJ

KEY POINTS

The court order formalizes the settlement agreement initially announced on Nov. 21
That agreement imposed a $150 million civil monetary penalty against Zhao
It also required a $1.35 billion ill-gotten transaction fee and a $1.35 billion penalty for Binance

The Commodity Futures Trading Commission (CFTC) announced on Monday that it is ending its enforcement action, as a U.S. court entered an order against Binance and its founder Changpeng Zhao (CZ) that would see both pay $2.7 billion and $150 million, respectively.

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