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<h3 id="key-points">Key Points:</h3><ul><li>Regulatory Settlement: Binance to pay $4.36 billion in fines and forfeitures for alleged AML and sanctions law violations.</li><li>Leadership Reshuffle: Founder and CEO Changpeng Zhao resigns, pledging guilty in a Seattle court.</li><li>Exit from US Market: Binance commits to a complete withdrawal and five-year monitoring of its sanctions compliance program.</li></ul>In a groundbreaking move, Binance, one of the world’s largest cryptocurrency exchanges, has decided to exit the U.S. market. The decision comes in the wake of a significant legal settlement, where the exchange has agreed to pay a<a href="https://cryptosnewss.com/binance-at-crossroads-4-billion-doj-settlement-looms-amidst-allegations/" rel="noopener noreferrer nofollow"> staggering $4.36 billion</a> in fines and forfeitures. This settlement aims to resolve allegations of Binance violating anti-money laundering (AML) and sanctions laws.As part of the settlement, Binance’s founder and CEO, Changpeng “CZ” Zhao, will step down from his position and plead guilty in a Seattle court. This marks a significant turning point for the company, as its leadership undergoes a transformative change.To address the regulatory concerns raised by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC), Binance will completely withdraw from the U.S. market. In addition, the exchange has committed to appointing a monitor for the next five years to oversee its sanctions compliance program. During this period, the U.S. Treasury Department will have unprecedented access to Binance’s records and systems, ensuring stringent oversight._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/binance-waves-goodbye-to-the-us-market-with-record-breaking-settlement/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on November 22, 2023.

Binance Waves Goodbye to the US Market with Record-Breaking Settlement

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