The Department of Justice (DoJ) plans to publicly disclose its settlement with cryptocurrency’s largest exchange, Binance, following news of a multibillion-dollar settlement and major enforcement action by regulators.
U.S. Attorney General Merrick Garland is set to announce a $4.3 billion settlement with Binance as a lengthy investigation into alleged fraud, money laundering and terrorist financing reaches its climax, Bloomberg reported.
The news comes ahead of a press conference where “separate but related” enforcement actions targeting cryptocurrencies will be announced. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, Deputy Attorney General Lisa Monaco and Treasury Secretary Janet Yellen are listed as speakers at the event .
It was previously reported that the U.S. Department of Justice was considering a multi-billion dollar settlement with Binance and possible charges against its CEO Changpeng Zhao. After this, the cryptocurrency market prices increased.
On Nov. 13, Binance moved $3.9 billion in Tether’s stablecoin USDT from cold wallets to hot wallets, sparking speculation that the company was moving funds ahead of a major settlement with the Justice Department. Hot wallets are typically used for instant or frequent transactions.
Binance has been the subject of multiple investigations by several U.S. regulators, including the CFTC, U.S. Department of Justice, and the U.S. Securities and Exchange Commission (SEC), all alleging similar accusations ranging from bank fraud to CZ-related money laundering Activity.
Binance has denied wrongdoing and even filed a motion to dismiss the SEC’s allegations, although the securities regulator called the motion absurd and made counterarguments. #美国司法部 #币安