Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
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y, including between Americans and individuals in sanctions jurisdictions.
The U.S. ordered Binance to pay $4.3 billion in fines and forfeiture. Zhao agreed to pay a $50 million fine.
Binance has separately been sued by the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission over the alleged mishandling of customer assets and the operation of an illegal, unregistered exchange in the U.S.
The action against Binance and its founder was a joint effort by the Department of Justice, the CFTC and the Treasury Department, though the SEC was notably absent.
A Binance spokesperson said in a statement to CNBC that the crypto exchange is “proud of the culture of compliance, security, and transparency we have created over the past several years, and we look forward to building on that culture as we continue to evolve.”