The U.S. Justice Department is engaged in talks with leading cryptocurrency exchange Binance over a multi-billion dollar settlement to conclude a criminal investigation, Bloomberg News reported on November 20th.
Sources claim prosecutors are seeking over $4 billion from Binance to drop their years-long probe into potential money laundering, bank fraud violations, and other alleged financial crimes.
Keypoints
- The US Justice Department is seeking over $4 billion from crypto exchange Binance to end a years-long criminal probe.
- Negotiations include the possibility that Binance founder Changpeng Zhao could face criminal charges in the US.
- Any resolution would likely impact investor sentiment toward crypto at a delicate time for the industry.
- Binance has faced investigations from the SEC, CFTC, IRS, and DOJ on issues like money laundering and sanctions violations.
- With crypto markets depressed, Binance has seen falling…
