Fine

Northern

Coin

<ul class="news-points"> 
 <li>The U.S. Court ordered Binance to pay $2.7 billion in penalty to the CFTC as part of the settlement of the lawsuit.</li> 
 <li>The court order mandated Changpeng Zhao to pay $150 million as a fine for money laundering.</li> 
 <li>The move came following Zhao’s guilty plea in the $4.3 billion settlement in November.</li> 
</ul> 
Recent <a href="https://www.reuters.com/legal/us-court-enters-order-against-binance-which-will-pay-27-billion-cftc-2023-12-18/" target="_blank" rel="nofollow">reports</a> revealed the U.S. court’s move against Binance and its former CEO Changpeng Zhao, in the CFTC lawsuit. The court ordered the company to pay a fine of $2.7 billion and Zhao individually a $150 million to the Commodity Futures Trading Commission (CFTC). This was following a case filed by the CFTC for money laundering. 
According to an official <a href="https://www.cftc.gov/PressRoom/PressReleases/8837-23" target="_blank" rel="nofollow">announcement</a> by the CFTC, the U.S. District Court for the Northern District of Illinois has approved the CFTC-Binance settlement, asking Binance to “disgorge $1.35 billion of ill-gotten transaction fees” and submit $1.35 as a fine to the commission. The CFTC, further elaborating on the court’s move, cited, 
<blockquote class="wp-block-quote"> 
 [The court] has approved the previously announced settlement and entered a consent order of permanent injunction, civil monetary penalty, and equitable relief against Changpeng Zhao and his companies Bi…
</blockquote>
The post <a href="https://coinedition.com/binance-to-pay-2-7b-in-fine-to-cftc-cz-will-pay-150m/">Binance to Pay $2.7B in Fine to CFTC; CZ Will Pay $150M</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Binance to Pay $2.7B in Fine to CFTC; CZ Will Pay $150M

Coin Edition

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