Binance CEO Changpeng Zhao, known online as CZ, is in talks to resign from his position as part of a deal with US authorities. Forbes and The Wall Street Journal reported simultaneously, citing different sources familiar with the matter.
According to media reports, Changpeng Zhao will soon step down from his position as CEO of Binance as part of a major deal between the US Department of Justice and the cryptocurrency exchange he founded. In addition, the condition for ending the criminal investigation against the company will be the payment of a fine of 4.3 billion dollars and the admission of guilt for money laundering.
It is known that only the US Department of Justice and the Futures Trading Commission will appear in the final agreement; The Securities and Exchange Commission, which previously sued Binance, is not involved in the negotiations, according to a Forbes source. Bloomberg reported on Nov. 20 that the parties were close to closing a deal.
The cryptocurrency exchange’s conflict with US regulators, which began in 2018, reached an acute phase in June, when the Securities and Exchange Commission filed 13 charges against Binance and its founder, including operating without a license and misleading investors. Following this, the crypto exchange stopped operating in several European countries.
Fountain
Author:
Grigori Shcheglov
Source: RB
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