Billion

<p>The post <a href="https://coinpedia.org/crypto-live-news/binance-settles-with-cftc-for-1-5-billion-in-fines-and-restitution/" rel="noopener noreferrer nofollow">Binance Settles with CFTC for $1.5 Billion in Fines and Restitution!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The U.S. Court has approved a settlement between the CFTC and Binance, with Binance paying $2.7bn and its former CEO, CZ, paying $150m. The court found that Binance and CZ violated federal law by operating an unregistered derivatives exchange. As part of the settlement, Binance must implement a formalized corporate governance structure and maintain KYC measures. Binance’s former CCO, Samuel Lim, has also been ordered to pay a $1.5m penalty for aiding and abetting Binance’s violations. CZ stepped down as CEO in November as part of a wider settlement with U.S. Regulatory agencies.</p>

Binance Settles with CFTC for $1.5 Billion in Fines and Restitution!

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