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US Seeks 4 Billion Dollars from Binance Exchange! According to Bloomberg, a penalty offer of over 4 billion dollars was made to the company to close the ongoing investigations and cases against Binance Exchange in the US. If Binance accepts this offer and agrees with the regulatory authorities, the investigations may be closed. However, it seems likely that Binance CEO Changpeng Zhao may face some criminal charges.
Binance is currently facing three separate investigations and lawsuits in the US. The US Department of Treasury alleges that Binance helped countries such as Iran and Russia that are under its sanctions. US Commodity Futures Trading Commission (CFTC), claims that Binance offered unregistered crypto derivative products in violation of federal law in the US.
US Securities and Exchange Commission (SEC), alleges that Binance US and its founder and CEO Changpeng “CZ” Zhao violated US securities laws. Should Binance accept this offer it could be a significant turning point for the crypto market. If an agreement can be reached, Binance will be able to continue its operations in the US and the exchange’s impact on the market will decrease.
This could help make the crypto market more stable. However, Binance possibly not accepting this offer. In that case, the investigations and lawsuits will continue and it will become difficult for Binance to operate in the US. This could have a negative impact on the crypto market.