Quote:
Originally Posted by chemgear
https://www.nbcnews.com/tech/tech-ne...nes-rcna126071
The Treasury Department said Binance “willfully failed to report” more than 100,000 suspicious transactions from a host of sanctioned groups and countries, including Hamas and North Korea.
The Justice Department said in a news release that Changpeng Zhao also pleaded guilty to failing to maintain an effective anti-money laundering program and would step down as chief executive.
Zhao also agreed to a $50 million fine as part of the settlement.
“Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed — now it is paying one of the largest corporate penalties in U.S. history,” Attorney General Merrick B. Garland said in the news release.
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Ironic from a Kitsilano High School graduate, school motto 'Fiat Lux' or 'let there be light'!!