Binance is asked to pay $4 billion as part of a proposed resolution with the DOJ.
Binance seeks a “deferred prosecution agreement” to continue its operations without direct prosecution.
The final decision could come by the end of this month.
Binance Holding Ltd. is reportedly asked to pay $4 billion as part of a proposed resolution with the United States Department of Justice, as per Bloomberg.
The report said that the settlement proposal between the DOJ and Binance comprises the probability that the cryptocurrency exchange’s founder, Changpeng “CZ” Zhao, would face criminal charges in the U.S. This agreement could fix the years-long investigation into the exchange firm for alleged violations of “money laundering, bank fraud, and sanctions violations”.
The news article also stated that Binance seeks a “deferred prosecution agreement” to continue its operations without direct prosecution.
Moreover, the DOJ reportedly has three-fold terms for this agreement—besides the $4 billion payment—including Binance’s admission of wrongdoing in a detailed statement of facts. Moreover, the U.S. authorities require the exchange’s commitment t…
The post Binance Faces $4B Settlement With DOJ to End Criminal Case: Bloomberg appeared first on Coin Edition.