The U.S. Justice Department is reportedly seeking over $4 billion from Binance Holdings to resolve a criminal investigation that has been ongoing for several years. This proposed resolution is a significant move for the world’s largest cryptocurrency exchange, focusing on allegations of money laundering, bank fraud, and sanctions violations. The negotiations also suggest the possibility that Binance’s founder, Changpeng Zhao, may face criminal charges in the United States as part of the agreement to conclude the investigation.
Binance Is Asked To Pay $4 Billion
According to Bloomberg News, Binance Holdings Ltd. is in negotiations with the U.S. Department of Justice (DOJ) to pay a $4 billion settlement over accusations of various criminal activities. These discussions also entertain the possibility of Binance’s founder, Changpeng Zhao, facing criminal charges in the U.S.
The company is currently under investigation by American authorities for allegations of money laundering, bank fraud, and breaching U.S. sanctions laws. These negotiations are expected to potentially reach a conclusion in the upcoming weeks.
The extensive investigation by the Justice Department, spanning over a year, might result in various criminal charges against both Binance and its founder. The potential charges could include money laundering, bank fraud, and violations of U.S. sanction laws.
This is a developing story
