US court approves settlement against Binance, firm to pay $2.7B to CFTC Cointelegraph Makemetechie.com Summary

US court approves settlement against Binance, firm to pay $2.7B to CFTC Cointelegraph | Makemetechie.com Summary

News Summary

Former Binance CEO Changpeng “CZ” Zhao has been ordered to pay $150 million, while Binance will pay $2.7 billion to conclude the CFTC enforcement action..
Over the past 18 months, Binance has been forced to terminate or significantly adjust its core services in several jurisdictions around the globe — including the Netherlands, Cyprus, Australia and Canada.Magazine: Terrorism and the Israel-Gaza war have been weaponized to destroy crypto Add reaction Add reaction.
Federal Court Enters Order Against Binance and Former CEO, Zhao, Concluding CFTC Enforcement Action: https://t.co/YJD1lglbsZThe approved settlement marks the conclusion of a long-running case against CZ and Binance by the CFTC..
The agency sued the executive and his exchange on March 27 for evading federal law and operating an illegal derivatives exchange..
It is an honour and with the deepest humility that I step into the role of Binance’s new CEO.We operate the world's largest cryptocurrency exchange by volume..
Teng said that moving forward, Binance was heavily invested in ensuring compliance with regulatory agencies from around the globe..

A United States court has entered an order against crypto exchange Binance and its former CEO, Changpeng CZ Zhao, that will see Binance pay $2.7 billion and CZ pay $150 million to the Commodity Futur [+3240 chars]

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