Binance pleads guilty, fined $4.3B over widespread U.S. law violations
By 
Aaron Nicodemus2023-11-21T23:38:00
Federal agencies hit Binance with more than $4.3 billion in penalties, prompted the resignation of its chief executive officer, and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering (AML) laws, sanctions, and other regulations.
The Department of Justice (DOJ); Treasury Department, including the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC); and Commodity Futures Trading Commission (CFTC) made the announcements at a joint press conference Tuesday.
“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,” said Attorney General Merrick Garland.
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