Get all your news in one place.
100's of premium titles.
One app.
Start reading
Zenger
Zenger
National
Neil Dennis

World’s Largest Crypto Exchange Hit With Record Fine, CEO Resigns

Binance, the world’s largest cryptocurrency exchange, was fined Tuesday $4.3 billion after CEO Changpeng Zhao pleaded guilty to failing to comply with US anti-money laundering and funding of terrorism laws. PHOTO BY VADIM ARTYUKIN/UNSPLASH

Binance, the world’s largest cryptocurrency exchange, was fined Tuesday $4.3 billion after CEO Changpeng Zhao pleaded guilty to failing to comply with US anti-money laundering and funding of terrorism laws.

At a press conference announcing the record fine, Attorney General Merrick B. Garland said: “As CEO of Binance, Zhao willfully violated federal law that requires financial institutions to guard against money laundering and terrorist financing.”

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.