United

<ul>
 <li>US prosecutors push the judge to accept Binance’s $4.3 billion penalty plea deal.</li>
 <li>Former Binance CEO CZ faces up to 10 years in prison but is expected to receive 18 months.</li>
</ul>
Binance Holdings Ltd., a major <a href="https://thenewscrypto.com/binance-to-sell-gopax-shares-amid-regulatory-hurdles-in-south-korea/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency exchange</a>, faces significant legal repercussions in the United States. US prosecutors are strongly advocating for a federal judge in Seattle to approve a plea deal with Binance, which has admitted to serious violations including anti-money laundering and sanctions breaches. The plea deal involves Binance agreeing to pay a record-breaking $4.3 billion in penalties, marking one of the largest criminal fines in US history.
According to the Bloomberg report, the prosecutors emphasized that senior executives at Binance were directly involved in intentional misconduct, justifying the substantial penalties proposed. The company’s failure to register as a money services business and its lack of an effective anti-money laundering program made it susceptible to exploitation by malicious actors seeking to evade sanctions and launder money. Notably, Binance admitted to facilitating transactions involving Hamas and other terrorist groups.
Former CEO Changpeng Zhao has also pleaded guilty to anti-money laundering charges and faces up to <a href="https://thenewscrypto.com/why-is-binance-founder-czs-sentencing-delayed-to-late-april/" target="_blank" rel="noopener noreferrer nofollow">10 years in prison</a>. However, under the plea agreement’s terms, Zhao is expected to receive a shorter sentence, possibly up to 18 months. His sentencing is scheduled for April.
Further, the plea deal with Binance includes provisions for monitoring the company’s operations for up to five years to ensure compliance with regulatory standards.&nbsp;

US Prosecutors Push for Binance’s $4.3B Plea Approval. The End Is Near?

TheNewsCrypto

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