Binance, a major cryptocurrency exchange, recently reached an agreement that includes several significant actions. As part of the agreement, the founder and CEO of Binance, Changpeng Zhao, pleaded guilty and agreed to step down from his position.
Additionally, Binance committed to retaining an independent compliance monitor for three years. The exchange also agreed to remediate and enhance its anti-money laundering and sanctions compliance programs.
These actions demonstrate Binance’s willingness to address compliance issues and work towards a more secure and regulated environment within the cryptocurrency industry.