Binance is in a world of trouble right now, with Binance founder Changpeng Zhao pleading guilty to money laundering and agreeing to resign from the company. 2VIEW GALLERY - 2 IMAGESNot only that, but Zhao will pay a $50 million fine and will be barred from any involvement in the Binance business. Garland said that Zhao had "willfully violated federal law that guards against money laundering and terrorist financing". The US attorney general identified millions in transactions from the US to Iranian users, users in Syria and Russian-occupied Ukraine, and terrorist groups including Isis". He added: "Binance willfully enabled hundreds of millions of dollars in transactions between American users and users subject to US sanctions.

Source: The Guardian November 22, 2023 02:55 UTC