
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.”