Bloomberg, citing anonymous sources familiar with the progress of the negotiations, reports that the US Department of Justice and the administration of the Binance cryptocurrency exchange do not exclude the possibility of concluding a settlement agreement in the case of alleged money laundering, bank fraud and violation of sanctions against Iran and Russia.
If he pleads guilty and pays a fine, the United States will delay filing criminal charges against Binance CEO Changpeng Zhao until the company fully complies with the court’s orders.
If Binance agrees to pay the amount of compensation proposed by the Ministry of Justice, it will be one of the largest fines in the history of criminal cases for cryptocurrency crimes. The parties are expected to reach a final agreement on this issue at the end of the month.
The protracted legal battle has already caused actual damage to the American division of the Binance exchange. In particular, trading volumes on Binance.US fell to a trickle after the exchange lost banking support and suspended deposits in US dollars. As a result, the American company was forced to carry out a large-scale staff reduction.
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