Binance Pleads Guilty, Agrees to Pay Record $4.3B Penalty for AML Violations
• Binance pleads guilty, agrees to pay $4.3 billion in fines and penalties for failing to perform required due diligence and comply with anti-money laundering regulations • Largest such financial penalty in Justice Department history • Illicit actors used Binance for money laundering, ransomware, dark web transactions • Binance founder Changpeng "C.Z." Zhao awaits sentencing on separate money laundering charges in April • Binance agrees to cooperate with government, enhance compliance, and adopt independent monitor