“This prosecution is a warning that companies that do not build sanctions compliance into their services face serious criminal penalties, as do the executives who lead them.” Olsen of the Justice Department’s National Security Division (NSD). “Binance’s crimes gave sanctioned customers unfettered access to American capital and financial services,” said Assistant Attorney General Matthew G. Make no mistake: when you place profits over compliance with the law, you will answer for your crimes in the United States.” financial system and our national security, and each of them has now pleaded guilty. “Binance’s and Zhao’s willful violations of anti-money laundering and sanctions laws threatened the U.S.

Argentieri of the Justice Department’s Criminal Division. law,” said Acting Assistant Attorney General Nicole M. customers, but refused to comply with U.S. “Changpeng Zhao made Binance, the company he founded and ran as CEO, into the largest cryptocurrency exchange in the world by targeting U.S. “Today’s charges and guilty pleas – combined with a more than $4 billion financial penalty – sends an unmistakable message to crypto and defi companies: if you serve U.S. “A corporate strategy that puts profits over compliance isn’t a path to riches it’s a path to federal prosecution,” said Deputy Attorney General Lisa O. financial system must also play by the rules that keep us all safe from terrorists, foreign adversaries, and crime or face the consequences.” Any institution, wherever located, that wants to reap the benefits of the U.S. law and regulations mark a milestone for the virtual currency industry. “Today’s historic penalties and monitorship to ensure compliance with U.S. Its willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform,” said Secretary of the Treasury Janet L. “Binance turned a blind eye to its legal obligations in the pursuit of profit. The message here should be clear: using new technology to break the law does not make you a disruptor, it makes you a criminal.”

“In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in two separate criminal cases. history,” said Attorney General Merrick B. “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed – now it is paying one of the largest corporate penalties in U.S. Commodity Futures Trading Commission (CFTC).

Binance Holdings Limited (Binance), the entity that operates the world’s largest cryptocurrency exchange,, pleaded guilty today and has agreed to pay over $4 billion to resolve the Justice Department’s investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Act (IEEPA).īinance’s founder and chief executive officer (CEO), Changpeng Zhao, a Canadian national, also pleaded guilty to failing to maintain an effective anti-money laundering (AML) program, in violation of the BSA and has resigned as CEO of Binance.īinance’s guilty plea is part of coordinated resolutions with the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) and the U.S.

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