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    <p>A US court has <a rel="noopener noreferrer nofollow" title="ordered" href="https://thebittimes.com/tag/ordered.html">ordered</a> <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> exchange <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> and its former <a rel="noopener noreferrer nofollow" title="chief" href="https://thebittimes.com/tag/chief.html">chief</a> Changpeng Zhao (<a rel="noopener noreferrer nofollow" title="CZ" href="https://thebittimes.com/tag/cz.html">CZ</a>) to pay $2.7 billion and $150 million respectively to the Commodity Futures Trading Commission (<a rel="noopener noreferrer nofollow" title="CFTC" href="https://thebittimes.com/tag/cftc.html">CFTC</a>).</p>
    <p>The <a rel="noopener noreferrer nofollow" title="CFTC" href="https://thebittimes.com/tag/cftc.html">CFTC</a> announced on Monday that the US District Court for the Northern District of Illinois approved the historic settlement, which was first reached in November as part of a larger package with the Department of Justice (DoJ), <a rel="noopener noreferrer nofollow" title="CFTC" href="https://thebittimes.com/tag/cftc.html">CFTC</a>, and two bureaus of the US Treasury.</p>
    <p>By formalizing the settlement, the US court has found that Binance and CZ violated the Commodity Exchange Act (CEA) and CFTC regulations. Binance will disgorge <strong>$1.35 billion in “ill-gotten transaction fees”</strong> and also pay a $1.35 billion penalty to the CFTC. CZ will personally pay a $150 million civil monetary penalty.</p>
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       Binance and CZ plead guilty but SEC lawsuit remains
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    <p><em>Read more: This one sentence from CZ’s criminal settlement has raised eyebrows</em></p>
    <p>In November, CZ was forced to resign as chief of Binance as part of a plea deal. He pled guilty to breaking US anti-money laundering and sanctions laws.</p>
    <p><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> was found to have withheld over <strong>100,000 suspicious transactions</strong> with organizations flagged by the US as terrorist groups, along with transactions with sites selling child pornography and sexual abuse.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-ordered-to-pay-2-7b-to-cftc-former-chief-to-pay-150m-tbt74152.html">https://thebittimes.com/binance-ordered-to-pay-2-7b-to-cftc-former-chief-to-pay-150m-tbt74152.html</a></p>

Binance ordered to pay $2.7B to CFTC, former chief to pay $150M

TheBitTimes

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